INDUSTRIAL REVOLUTION 4.0 IN VIETNAM, OPPORTUNITIES FOR SMALL AND MEDIUM BUSINESS ACCESS TO CAPITAL EFFECTIVELY

Abstract

In recent years, along with the rapid development of technology, small and medium-sized enterprises in Vietnam have entered a big competition called the industrial revolution 4.0. Industry 4.0 is considered a lever to help small and medium-sized enterprises improve their financial capacity and, more importantly, open up many different channels to access capital on a digital technology platform such as supply chain financing, lending or crowdfunding. Although technology-based non-traditional capital mobilization channels bring many benefits to small and medium-sized enterprises as well as financial institutions, in Vietnam, these mobilization channels have not been developed, there is no framework yet. Legal and clear policies make businesses potentially risky when accessing capital from online platforms. Besides, small and medium enterprises themselves are not really ready to approach and strongly apply technology in their business activities.