Examining the effectiveness of support systems for small and medium enterprises in Hanoi city: A sociological investigation

According to the World Bank (2021), the world will require 600 million jobs by 2030, making SME development a priority for governments to measure their support efforts. Hanoi, Vietnam's capital, is a hub for SMEs, with 1 business for every 37 people, 3.8 times higher than the national average. By the first quarter of 2024, SMEs accounted for 98.2% of registered enterprises, employed 55.1% of workers, and contributed 40% of Hanoi's GDP. Such a massive number of enterprises requires significant effort to address challenges with suitable solutions, fostering the Hanoi government-introduced policies, including financial credit, workforce training, and technology transfer. To evaluate the effectiveness of these policies, the authors first analyzed the secondary data to form hypotheses, then surveyed to collect 900 responses from SMEs operating in multiple districts in Ha Noi. Over half of the respondents found the policies timely, effective, and impactful in enhancing operational efficiency and competitiveness. However, effectiveness varied across support types, revealing a gap between SMEs' needs and policy accessibility. This study highlights the importance of tailoring policies to improve resource access and competitiveness, addressing disparities in effectiveness, and ensuring continuous support for SME development.