Citation:

Hoang Thanh Tung, Tran Hoang Anh, Nguyen Thi Kim Ngan, Nguyen Ngoc Thuy Ngan. "Starting a Business of Vietnamese Young People: Opportunities and Challenges" International Research Journal of Economics and Management Studies, Vol. 2, No. 4, pp. 35-43, 2023.

Abstract:

Young people are the group that updates and approaches new technology quite well with high creativity. They choose the direction of entrepreneurship to develop themselves and contribute to the community. The article studies the theoretical basis of entrepreneurship, clarifies the concept of entrepreneurship, the reasons why young people like starting a business, and the factors that create success for young people when starting a business. Overview of the entrepreneurship situation of Vietnamese young people, pointing out the advantages that young people can take advantage of to start a business, such as Young people have new ideas, daring to think and do things, Having a good educational background, With support and facilitation from the state, school, family and society. However, aside from the opportunities, there are many challenges that young people face when starting a business, such as difficulty in calling and attracting investment capital, Lack of business direction, and inability to strike a balance between work and life. There are few business relationships; there is no complete legal awareness. Administrative procedures are the reasons why only 3-5% of young people start successful businesses. The author proposes several solutions to promote entrepreneurship among young Vietnamese people and improve its efficiency based on a review and research.

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Keywords:

Startup, Young People, Advantages, Disadvantages.