Post by : Meena Ariff

In today’s world, where the global economy is facing many challenges, businesses in Vietnam are learning a new way to work and grow. This is especially true for small and medium-sized enterprises (SMEs). Instead of fighting each other to become the best, they are now choosing to support and work with each other to stay strong together.

Why Businesses Are Changing Their Mindset

For many years, the business world in Vietnam was like a race. Companies competed to get more customers, earn more profits, and become the top name in their industry. Business owners believed that keeping their secrets safe and not sharing their contacts or ideas would help them stay ahead of others.

However, in the past few years, this way of thinking has changed. The COVID-19 pandemic showed everyone how quickly businesses can be affected by global problems. Lockdowns, supply chain issues, and changing customer behaviours created difficulties for even the biggest companies.

Along with this, tensions between countries and sudden economic shocks have made the market very unpredictable. Business owners realised that even if they were strong alone, it was hard to survive without any support during unexpected challenges.

New Philosophy: From Competition to Symbiosis

This is why many Vietnamese entrepreneurs now believe in symbiosis. Symbiosis means living and working together in a way that benefits everyone. They see that connecting with others, building strong relationships, and sharing knowledge, resources, and opportunities make them stronger as a group.

One business leader explained, “No business can succeed alone anymore. We have to change from competing with each other to helping each other if we want to build a better and sustainable future.”

Business Networks Creating Strong Bonds

The International Business Networking Organisation (IBNO) is one example where this mindset is becoming a reality. It brings together thousands of business owners from different sectors across Vietnam. Unlike traditional business groups that only exchange business cards, these networks create real friendships based on trust.

Goldtrans: A Success Story of Collaboration

Goldtrans is a freight and logistics company that used to spend a lot of money on advertisements and calling random contacts to find customers. Their sales process was slow because new customers did not trust them easily.

After joining IBNO, things changed. Most of their new customers now come from people in their business network. This has made their sales process faster and reduced their marketing costs.

The company director said, “When someone in the network recommends us to their friend, it builds instant trust. Customers are more confident to work with us.”

Helping Each Other in Hard Times

During the COVID-19 pandemic, when Vietnam faced strict lockdowns, many businesses suffered badly. Quán Huế, a popular restaurant chain in Hanoi and Hung Yen, saw its income almost disappear overnight because people were not allowed to dine in.

But the restaurant owner, Ms. Đỗ Thị Phương, shared how her business network saved her. Food suppliers allowed her to pay later. Technology experts quickly created an online ordering platform for her without charging in advance. Other business owners bought prepaid food vouchers to support her cash flow.

She said emotionally, “Without this community, we would not have survived. They didn’t just help us with money. They gave us hope to keep going.”

Solving Big Problems Together

Another example is Nam Viet Furniture, which exports wooden furniture to countries like the US, Japan, and the Middle East. Because of rising global tensions, their shipping costs became very high, and containers were delayed.

The company director, Mr. Nguyễn Hoàng Phước, was worried about how this would affect their business. But through his network, he found another business that had extra container space. They shared the shipping, which saved them about 40% of the cost.

He said, “Without this connection, we would have lost money and faced angry customers. Sharing helped us survive and keep our customers happy.”

A Major Change in Vietnam’s Business Culture

These stories show that Vietnam’s business culture is changing deeply. Earlier, companies kept information secret and tried to outsmart each other. Now they understand that sharing, helping, and trusting each other builds a stronger business environment for everyone.

One business network leader explained, “This change is from thinking that there is not enough for everyone to realising that when we share, everyone gets more. It’s not just about making deals. It’s about building a family where members can lean on each other in good and bad times.”

Emotional and Mental Benefits of Networking

Running a business can be lonely and stressful. Many owners feel that they have no one to share their worries with. But these networks provide a place where entrepreneurs can discuss their challenges, learn from others’ experiences, and find motivation when they feel low.

Studies by business networks have shown that companies that are active members grow more steadily and handle crises better than those that remain isolated.

Why This Matters for Vietnam’s Economy

Small and medium-sized businesses in Vietnam are very important. They give jobs to more than 80% of people and make up nearly 30% of the country’s GDP. But they often face problems like not getting bank loans easily or sudden changes in market demand.

By working together and supporting each other, these businesses reduce risks, find new opportunities, and grow stronger as a community.

Business leaders believe that this new way of working is not just to survive today’s problems but to build a powerful and sustainable future. It encourages innovation, learning, and long-term success.

Collective Growth is the Key

One business education leader said, “When one business in the network succeeds, the whole group becomes stronger. This inspires others to learn, innovate, and become more generous in helping others too.”

Even industries that are known for strong competition, like real estate and consumer goods, are starting to adopt this mindset. They are now doing joint marketing, sharing customer contacts, and working on big projects together.

The Road Ahead

As the world becomes more connected and uncertain, Vietnamese businesses are showing that teamwork is better than fighting alone. This model, built on trust, cooperation, and shared growth, is helping them turn challenges into opportunities.

For many entrepreneurs, this change means they no longer feel alone. They now have confidence, support, and a sense of belonging. As Vietnam’s economy continues to change, businesses that choose symbiosis and collaboration are likely to lead the way to a brighter future.

“Today, success does not belong to the biggest company,” said one leader wisely. “It belongs to those who listen, help each other, and grow together as one.”