POST-COVID-19 ECONOMIC RECOVERY IN VIETNAM’S HOUSEHOLD BUSINESSES: INTERNAL AND EXTERNAL DRIVERS
DOI:
https://doi.org/10.18623/rvd.v23.n1.3984Keywords:
Business Characterisx, Economic Recovery, Management Capacity, External Support, Business Environment, COVID-19, VietNamAbstract
This study investigates the post-pandemic economic recovery of 534 individual household businesses in Vietnam, examining how internal and external factors influence their recovery outcomes. Specifically, it considers the role of key variables such as business characteristics, management capacity, external support, and the business environment in shaping post-COVID business recovery. Data were collected through a structured questionnaire across various sectors and analyzed using SPSS and AMOS to examine the relationships among these variables. The findings reveal that internal factors significantly influence recovery outcomes; for instance, a business’s scale, sector, and owner experience show strong associations with better post-COVID recovery performance. Strong management capacity particularly sound financial management and adaptability is also critical for overcoming challenges and building resilience. External support, notably government aid and community backing, positively influences recovery, while the broader business environment (e.g., market stability and competition) moderates these effects. Economic recovery among these household businesses is evidenced by increased revenue, higher profitability, and greater business sustainability. Although the study focuses on Vietnam’s household businesses, which may limit generalizability to other contexts, it offers a nuanced view of how internal and external factors collectively drive recovery. These insights provide practical guidance for policymakers and business owners in developing targeted support measures, strengthening management practices, and fostering an enabling environment to ensure a sustainable and resilient post-pandemic recovery.
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