From household businesses to enterprises: Seizing long-term growth opportunities

However, this journey is not only about policy changes; it also requires practical support from banks and the broader community. Sacombank has taken a pioneering role by offering modern financial and technological solutions, providing a solid foundation for household businesses to confidently transition into enterprises and achieve sustainable, long-term growth.

Sacombank supports household businesses in transitioning to the enterprise model.  

Significant opportunities for household businesses to become enterprises

According to the Tax Department, in the first half of 2025, 1,474 household businesses completed their transition to enterprises - an 18% increase compared to the same period last year. Additionally, approximately 110,000 household businesses registered to use electronic invoices generated from cash registers, signaling a clear trend toward operational standardization.

On a broader scale, the entrepreneurial environment remains vibrant. In the first eight months of 2025, around 128,000 new enterprises were established nationwide, with total registered capital exceeding VND 1.25 quadrillion, reflecting a strong wave of business transitions and formations.

To encourage this trend, the National Assembly has introduced policies offering tax incentives, including reduced tax rates of 15%–17% for enterprises with annual revenue not exceeding VND 50 billion, lower than the standard 20%. Moreover, small and medium-sized enterprises transitioning from household businesses are exempt from taxes for their first three years of operation. This is considered a “golden opportunity” for household businesses to boldly step into a more professional and sustainable business environment.

Ms. Le Hai Duong, owner of a printing shop in HCMC, shared: “Large clients like schools and government agencies often require VAT invoices, which we couldn’t provide as a household business. I want to transition to an enterprise to have proper documentation, access capital more easily, and expand operations. However, the process is daunting - legal procedures are complex, costs are high, and our knowledge of enterprise management, accounting, and taxation is limited.”

Ms. Duong’s story reflects the aspirations and challenges faced by many household businesses today - they recognize the opportunities of transitioning but remain hesitant due to procedural, cost, and management barriers.

Sacombank’s commitment to supporting household business transitions

Mr. Nguyen Tan Cuong, Director of Sacombank’s Corporate Banking Division, stated: “Transitioning from a household business to an enterprise requires preparation not only in legal matters but also in management, finance, and technology. We understand that many customers feel uncertain during this phase, so Sacombank has proactively designed comprehensive solutions to closely support household businesses, ensuring a smooth transition. We believe that every enterprise, whether small or large, needs a strong financial and technological foundation to keep pace with change and achieve long-term growth.”

In practice, many household businesses that have reported positive outcomes. Mr. Tran Quoc Hung, owner of an electrical equipment store in Binh Duong Ward (HCMC), shared: “Since becoming an enterprise, I’ve gained more trust from large clients, and signing contracts has become easier. Initially, I was worried about procedures and costs, but Sacombank supported me by offering free enterprise account opening, guiding me on online services, and recommending suitable management software. This has saved me time and given me confidence in managing my business.”

To encourage household businesses to transition, Sacombank has rolled out a range of practical incentives, including:

- One year of free access to specialized account services (covering payment accounts, corporate cards, online banking, transfers, and online tax payments).

- Cashback of up to VND 3 million per enterprise, along with valuable gifts such as travel vouchers, business-class flight tickets, UrBox vouchers, or premium travel bags for corporate card transactions, valid until 31/12/2025.

Upon transitioning to an enterprise, Mr. Tran Quoc Hung noted that the Bank provided support in numerous aspects

Furthermore, Sacombank has partnered with MISA to provide 12 months of free access to a comprehensive management software suite covering sales, receivables, inventory, e-invoices, and digital signatures. This enables newly established enterprises to operate smoothly without the burden of initial investment costs.

On the financing front, Sacombank offers flexible financial solutions to provide timely support for household businesses transitioning into enterprises. Specifically, in the first year after transitioning, Sacombank evaluates the business’s prior operations and financial status to continue providing credit, ensuring uninterrupted cash flow. Enterprises can quickly access working capital loans, overdraft limits, and credit card facilities without requiring collateral.

Additionally, Sacombank offers preferential loan interest rates, reduced guarantee fees, and tailored financial policies to help enterprises remain stable while scaling up and seizing growth opportunities. Notably, Sacombank is implementing a VND 40,000 billion preferential credit package with interest rates starting from 4.3% per year to support enterprises in expanding production, upgrading technology, and more - available until the end of 2025. This package prioritizes sectors such as import-export, agriculture, forestry, fisheries, the green economy, and businesses investing in infrastructure, digital technology, or digital transformation.

Mr. Nguyen Tan Cuong emphasized: “Sacombank is not just a capital provider but a reliable partner. Our nationwide team directly advises and supports each household business transitioning to an enterprise, helping them confidently step into a new, more professional, and sustainable phase of development.”

For more information, visit [HERE] or contact the hotline 1800 5858 88 (toll-free) for detailed consultation and direct support.