Since the " innovation " era, it can be said that every major obstacle that enterprises must face will make them more and more mature and stronger. Vietnam becomes prosperous and beautiful as it is today thanks in part to strong aspirations. Their constantly evolving.

The Covid epidemic is raging all over the world and is causing the economies of the western countries to become in crisis. In Vietnam, entrepreneurs have recognized a lot about the challenges and risks that Covid translation brings. They are ready to deal with it. They plan a new business cycle in a "new normal" state.

The "new normal" does not just happen in an epidemic period like 2020. Before Covid 19, the world also experienced a lot of natural disasters, economic crises, degradation of countries, etc. The world is ever-changing and with it comes risk. Those who have enough bravery will turn that risk into an opportunity to transform, innovate and develop.

During the past decade, the necessity of digital transformation in Vietnam has been inevitable. Enterprises seek new growth models to adapt and exist in parallel with the needs of the world. COVID-19 appeared and broke the value chain and made us better understand this state and the new requirements of development.

Enterprises have a particularly important position in the economy. They must be alert to understand the situation, both positive and negative impacts. Still in this epidemic period, the decrease in orders, maintenance money, customers, etc. is what makes businesses have a headache when thinking about it.

Rise up, get back on track

Indeed, the pandemic has caused a series of businesses to temporarily leave the market, even close and dissolve, but the efforts of a large number of businesses and entrepreneurs are undeniable.

According to October statistics, nearly 8,300 enterprises left the market, down 2.6% from the same period last year and down 9% compared to September. Meanwhile, the number of newly registered enterprises increased by 18, 4% compared to the previous month to more than 12,200 and the number of enterprises operating again increased by 10.4% to 5,044.

During the new Covid bloom in Vietnam, businessmen and their businesses have also accompanied the Government in their efforts to prevent epidemics and support social stability.

There are Vietnamese businessmen who have been in business for 3-4 generations. They have witnessed a change, accompanying the country in the journey of economic renewal associated with the recognition of private ownership, the role of business people and the private sector in the economy. Success or failure in the period when the country opens its economy to foreign investors and integrates into the world economy, they have also experienced it. But in return, they also learned a lot

Growing up during the war, subsidized and forced into business to escape poverty, the first generation of entrepreneurs witnessed nearly all of Vietnam's economic reforms. The second generation chose business as a career. They are better trained with a more modern and professional business mindset. The third generation of innovative startups are emerging with a desire to express and prove themselves.

Entrepreneurs in the 4.0 era have absorbed the experiences of the previous generation and clearly understand the value of their business. They are doing it for themselves, for the community and for the country. They carry within them great dreams and aspirations to help the nation catch up and stand shoulder to shoulder with developed countries. Today's entrepreneurs are also looking for new ideas for sustainable, inclusive and innovative growth.

Successful entrepreneurs

Vietnam's economic growth has recognized the contribution of outstanding entrepreneurs such as FPT Chairman Truong Gia Binh with his dream of using IT to push Vietnam forward and catch up with the world; Dang Le Nguyen Vu, founder and chairman of Trung Nguyen Group, who wants to "conquer" the world with his creative "coffee spirit"; Ly Ngoc Minh who brought Vietnamese ceramics to the world; and Mai Kieu Lien, 4 times topped the 50 most powerful businesswomen in Asia, behind Vinamilk's success.

Many Vietnamese businessmen are also among the top global "US dollar billionaires" such as Vingroup Chairman Pham Nhat Vuong and Vietjet President Nguyen Thi Phuong Thao. They have created powerful businesses capable of building large value chains and competing in global markets.

However, besides success, there are also stories of failure.

Some entrepreneurs do not associate their interests with those of the country and the community, lack of progressive thought. There are also people who distort the entrepreneur's image with cronyism, find privilege, group interests in business

Meanwhile, some entrepreneurs have an extremely narrow vision and lack the courage to go further. Many Vietnamese businesses are in the process of transferring their business to the next generation. In this process, the key issue is not only the transfer of assets and wealth, but more importantly, the transfer of values and aspirations to thrive that have made the success of previous generations successful.

Vietnamese businessmen have made great strides, but in order to stand on par with world powers, they will need a lot more effort.

In a world where lifestyles, consumption, and technology are changing rapidly, the next generation must pay attention to aspects that are essential for growth such as embracing trends, innovating, connecting, competing, self-knowledge and strengths and know how to manage risk.