Currently, there is a growing tendency to use corporate support services for legal and financial consultancy, business administration and market expansion strategies in order to enhance the competitiveness of domestic businesses, especially in the current context of deeper global economic integration.

According to the Da Nang Institute for Socio-Economic Development, the city is now home to nearly 15,000 businesses but has only 190 corporate support service providers.  In reality, many local businesses are reluctant to use corporate support services.

Worker at a local company

A representative from the city’s Dau Xuan Duc Company for Accounting and Financial Services said that many such services have yet to prove popular with local businesses.

The Director of the city’s Support and Development Centre for Small and Medium-sized Enterprises (SMEs), Mr Ly Dinh Quan, noted that the majority of local corporate consultancy service establishments are small-scale, and face a severe shortage of capital and skilled employees to ensure their effective operation.  As a result, these establishments have yet to satisfy the increasing demand of local businesses.

To further the development of the local corporate support services, local providers said they hoped that local businesses would develop more trust in their services and increase their use in order enhance their administration capacity and expand their production activities in the future.