Digital Transformation in Small and Medium Businesses in Vietnam

1. Introduction

The business and competitive landscape has changed a lot with many new factors, especially the rapid development of the industrial revolution 4.0 and the development of the internet, information technology, and breakthrough inventions. applications in all areas of social life. Digital transformation in general and digital transformation in business, in particular, are therefore taking place strongly in most countries and businesses, becoming the main trend in the socio-economic development forums of each country. The emergence of new business models - business on digital platforms, and e-business, creates many better competitive advantages than traditional business models in the market. This is posing many opportunities and challenges for enterprises in general and small and medium enterprises in particular in terms of their existence and development in the business process. So how is the digital transformation process taking place in a country like Vietnam and the business community in Vietnam? What factors have a positive impact on the digital transformation process in small and medium enterprises? What are the advantages and disadvantages for small and medium enterprises? This study contributes to pointing out the internal and external factors affecting the digital transformation of small and medium enterprises in Vietnam. The research results will be a suitable reference for small and medium-sized enterprises to actively implement the digital transformation process for their businesses, applying digital technology to transform business models to increase their business capabilities and adapt to the new business and competitive landscape.