90% of female-led businesses are small and medium-sized enterprises

Accounting for about 70% of the domestic consumption market, many female-led businesses are missing out on great opportunities in foreign markets.

Small and medium enterprises are the backbone of every economy.

On the afternoon of November 25, in Hanoi, the Vietnam Trade Promotion Agency (VIETRADE), Ministry of Industry and Trade , in collaboration with the SheTrades Program (International Trade Center) and the Embassy of the Netherlands in Vietnam, launched the project "Promoting exports to the European market through an e-commerce platform for women-owned businesses in Vietnam".

Speaking at the project launch ceremony, Mr. Christoph Prommersberger - Deputy Head of Mission, Embassy of the Kingdom of the Netherlands in Vietnam said that one of the main goals at the Embassy is to strengthen the economic relationship between Vietnam and the Netherlands. To date, this relationship has achieved significant achievements, typically the Netherlands has long been the largest EU investor in Vietnam and the largest export destination of Vietnam in the EU.

Mr. Christoph Prommersberger - Deputy Head of Mission, Embassy of the Kingdom of the Netherlands in Vietnam spoke at the ceremony. Photo: Do ​​Nga

“ This program is another step in our efforts to support Vietnam’s private sector – especially women entrepreneurs. It is clear that women often face more obstacles than men in business, while their contribution to the economy is equally important and the growth potential of women entrepreneurs is also huge, ” Mr. Christoph Prommersberger emphasized.

The representative of the Embassy of the Kingdom of the Netherlands in Vietnam also pointed out that women only account for 23% of the total number of entrepreneurs in Vietnam, while in the Netherlands, this figure is only 37%. Therefore, the Dutch government is committed to empowering female entrepreneurs, both domestically and globally.

In addition, in Vietnam, 90% of women-led businesses are SMEs. In fact, SMEs are the backbone of every economy. SMEs create jobs, ensure the flow of money to all corners of society, and facilitate equitable income distribution, thus promoting inclusion.

But being a small business comes with challenges such as access to capital, management skills, productivity and market reach. About 70% of women-owned SMEs in Vietnam are heavily focused on the domestic market. This means they are missing out on huge opportunities in foreign markets.

On the other hand, in today’s connected world, e-commerce has revolutionized international trade, giving businesses of all sizes access to global markets. By 2023, an estimated 2.6 billion people, or nearly half of the global population over the age of 15, have made at least one online purchase. So, it is clear that the power of e-commerce today is huge.

"That is the reason why the project "Promoting exports to the European market through an e-commerce platform for women-led businesses in Vietnam" was born, helping businesses led by Vietnamese women take advantage of e-commerce to expand their operations abroad" - Mr. Christoph Prommersberger said.

Representatives of international organizations attended the launching ceremony of the project “Promoting exports to the European market through an e-commerce platform for women-owned businesses in Vietnam”. Photo: Do ​​Nga

“ Women entrepreneurs are key to driving this change and we are ready to support them in their next steps to grow their businesses globally and develop as business leaders. In the next phase of the programme, businesses will have the opportunity to win grants to join an e-commerce platform, penetrating international markets, especially the EU ,” said Christoph Prommersberger.

Export promotion opportunities for women-owned businesses

Sharing the same view, Ms. Judith Fessehaie, manager of SheTrades, International Trade Center (ITC) said at the workshop that although Vietnamese women are superior to men in business activities, more than 90% of these businesses are small and medium enterprises, often limited to the domestic market.

Accordingly, Ms. Judith Fessehaie said that by equipping them with access to international trade, we can unlock their growth potential and promote Vietnam's economic development.

“Through the SheTrades Initiative, we strive to equip women entrepreneurs with the tools and networks they need to succeed in the global marketplace. The SheTrades Center in Vietnam, organized by VIETRADE, realizes this mission by creating an environment where women-led businesses can thrive,” said Judith Fessehaie.

Ms. Judith Fessehaie emphasized that collaboration is the backbone of this initiative. By uniting the Kingdom of the Netherlands, VIETRADE, ITC SheTrades and partners from the public and private sectors, we are building an ecosystem that supports women entrepreneurs at every step of their journey. This joint effort highlights the power of working together to create real impact.

“At today’s event, we have taken a significant step towards breaking down barriers and helping women entrepreneurs thrive in the digital economy. Together, we are shaping an inclusive future where women-led businesses drive innovation, resilience and prosperity,” said SheTrades Manager, International Trade Centre (ITC).

According to the Trade Promotion Agency (Ministry of Industry and Trade), the project not only enhances export capacity but also builds long-term cooperative relationships between Vietnamese and Dutch enterprises. This is a testament to the commitment to strengthening cooperation between the two countries and is in line with the goal of enhancing the capacity of Vietnamese enterprises.

According to the Trade Promotion Agency (Ministry of Industry and Trade), the project not only enhances export capacity but also builds long-term cooperative relationships between Vietnamese and Dutch enterprises. Photo: Do ​​Nga

The project aims to create opportunities to support women in starting businesses, promote the sustainable development of women-led enterprises and women-managed cooperatives, and achieve the Millennium Development Goals, especially the goal of gender equality.

At the project launch ceremony, experts from the Ministry of Industry and Trade presented an overview, challenges and opportunities for female entrepreneurs in digital commerce, as well as key concepts of e-commerce.

Business representatives were also provided with information on the benefits of the EU-Vietnam Free Trade Agreement (EVFTA), including tariff reductions, improved market access and increased export potential. In addition, the project introduced e-commerce platforms such as Alibaba.com to help businesses access global markets.

Source: https://congthuong.vn/90-doanh-nghiep-do-nu-lanh-dao-la-doanh-nghiep-vua-va-nho-360795.html