Band 9: Nowadays an increasing number of people are leaving their jobs in companies and corporations to start their own businesses. This trend is quite popular among young people especially those with a high level of education. Some people believe that this tendency is increasing more and more rapidly in many parts of Vietnam. What are the main causes of the tendency?

In recent years, there has been a discernible trend of young individuals, particularly those with advanced educational qualifications, leaving their stable employment in established companies to embark on entrepreneurial endeavors. This phenomenon is becoming increasingly prevalent in various regions of Vietnam, and several key factors underpin this growing inclination towards self-employment.

First and foremost, the potential for increased income is a significant motivator for many individuals seeking to start their own businesses. Self-employed individuals, particularly those with a solid educational background, often possess the skills and knowledge necessary to optimize their ventures for greater financial success. For instance, in Vietnam, the average annual income of a self-employed person is approximately $15,000, which is three times greater than that of an average office worker. Consequently, the allure of a higher income serves as a compelling reason for numerous young people to resign from their jobs in favor of becoming entrepreneurs.

Additionally, the Vietnamese government plays a pivotal role in fostering this entrepreneurial spirit by implementing supportive policies aimed at facilitating business ownership. Recently, the government has introduced various initiatives to enhance the economic landscape for entrepreneurs, such as providing financial assistance, simplifying registration processes, and offering training programs. This governmental endorsement significantly alleviates the challenges faced by new enterprises in their formative stages, thereby making the prospect of starting a business more attractive. Without such support, many aspiring entrepreneurs might find the barriers to entry prohibitively challenging.

In conclusion, the rising trend of entrepreneurship in Vietnam can be attributed to the dual factors of increased earning potential and robust government support. As these influences continue to develop and strengthen, it is highly probable that we will observe an even greater influx of young individuals pursuing their own business ventures in the future