With over 800,000 active businesses, SMEs account for 96% of all registered enterprises in Vietnam and generate nearly 60% of private-sector jobs. Despite their pivotal role in the economy, the majority of SMEs still do not fully understand the regulations for small and medium-sized enterprises, missing out on accessing the specific support policies that the State has designed for them.
Small and medium-sized enterprises (SMEs) play a crucial role in the Vietnamese economy
Legal Basis: Law on Support for Small and Medium-sized Enterprises and Decree 80/2021
The regulatory framework for small and medium-sized enterprises in Vietnam is built on two foundational legal documents.
The Law on Support for Small and Medium-sized Enterprises 2017 is Vietnam’s first dedicated law for the SME sector. It establishes the legal framework for classification criteria, rights, and principles of State support. This law serves as the foundation for ministries, sectors, and localities to implement specific support programs.
Decree 80/2021/ND-CP, issued by the Government, provides detailed regulations and guidance for implementing the Law on Support for Small and Medium-sized Enterprises. It covers classification criteria, technology support, consulting, human resource development, and special support for businesses transitioning from household businesses or innovative startups.
The scope applies to all enterprises established, organized, and operating in accordance with Vietnamese law, while meeting the specific size criteria.
How to Accurately Determine Labor, Capital, and Revenue Figures
Incorrect determination of any of the three classification criteria can lead to misdeclaration of size and loss of access to support. Below are the regulations for small and medium-sized enterprises on precise calculation of each indicator.
Average annual number of social insurance participants: Calculated by dividing the total number of social insurance contributors across all months of the previous year by 12. Only employees with indefinite-term contracts or contracts from 1 month to under 36 months are counted. For businesses operating less than one full year, divide the total contributors by the number of actual operating months.
Total capital: Taken from the balance sheet in the financial statements of the previous year at year-end. For businesses operating less than one year, use the balance sheet at the end of the most recent quarter before applying for support.
Total revenue: Includes all revenue from sales of goods and provision of services in the financial statements of the previous year. For newly established businesses with no revenue yet, use total capital as the classification criterion instead.
Key labor indicators
Declaration Responsibility and Legal Consequences of Inaccurate Declaration
Under the regulations for small and medium-sized enterprises, businesses are responsible for self-determining their size and declaring it according to the prescribed form when submitting to supporting agencies or organizations. Supporting agencies will cross-check information against the National Business Registration Portal to verify accuracy.
If inaccuracies are discovered during declaration, businesses must proactively correct them before receiving support. In cases of intentional false declaration for personal gain, the business bears full legal responsibility and must repay all received funds in accordance with the law.
Full Support Policies Under Current Regulations for Small and Medium-sized Enterprises
After correctly declaring size in compliance with regulations, businesses can access a comprehensive system of support policies under the Law on Support for Small and Medium-sized Enterprises and Decree 80/2021/ND-CP.
| Support Category | Specific Content | Reference Support Level |
| Consulting | Finance, sales, market, production, legal | 30%–100% for three months (approx. 50–200 million/month) |
| Digital Transformation | Consulting digital solutions, leasing/purchasing management software | Up to 50% of costs, maximum 20–100 million VND/year |
| Tax & Accounting | Micro enterprises apply simplified accounting regime with fewer account categories | Reduced administrative accounting burden |
| Credit | Support in building business plans, improving management skills, transparent assets | Increased access to credit institutions |
| Production Premises | Preferential rental rates in industrial zones and clusters | Maximum 5 years (not applicable to state-owned or FDI enterprises) |
| Human Resources & Market | Training, market information, domestic & international trade promotion | According to specific local programs |
Priority Principles: First-come, first-served applications; priority for women-led enterprises, enterprises employing many female workers, and social enterprises. Enterprises meeting multiple priority conditions may choose the most beneficial level of support for the same item.
Regulations for Small and Medium-sized Enterprises Expanding Internationally
From a global perspective, developed economies like Japan, Korea, and Singapore have built ecosystems to support SME internationalization as a core economic strategy. In Vietnam, current regulations for small and medium-sized enterprises are beginning to expand into international trade promotion and global supply chain connections.
However, the gap between policy and practice remains significant. Many enterprises are unaware they are missing support programs for small and medium-sized enterprises in areas such as foreign market information, export skills training, or B2B international partner connections because they have not completed size declaration or do not know the correct support channels.
GMAJOR accompanies SMEs in expanding their reach globally
GMAJOR Accompanies SMEs in Maximizing Policies and Going Global
Mastering the regulations for small and medium-sized enterprises is only the starting point. To truly break through, businesses need a structured international partner ecosystem. That is the role of GMAJOR – the global online B2B connection platform – helping Vietnamese SMEs reach the right suppliers, right customers, and right markets efficiently and controllably.
GMAJOR provides comprehensive accompanying service packages:
- Operating support: Professional assistance and high-quality potential partner connections each month
- Negotiation commitment: Up to 2 partners connected and 3 real negotiations per month
- Internal training: Comprehensive program from partner sourcing to team training
- Premium advertising package: Increase global visibility, prioritize product display, and reach international B2B customers
GMAJOR is currently offering a 20% discount for new businesses.
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