KINH TE
PHAT TRIEN CAC
DOANH NGHIEP KHCfl NGHIEP:
THUC TRANG VA KINH NGHIEM QUOC TE VE H 6 TROf TAI CHINH DOI VOfi
DOANH NGHIEP MOfi
• v u DUY HAO - N G U Y I N MINH PHLfdNG - N G U Y I N THj PHA
TOM TAT:
Doanh nghiep khdi nghiSp ddng vai tro quan trpng dd'i vdi nen Icinh t6' moi qud'c gia, thiic day cac y tifdng sang tao mdi, tao viec lam, ddng gdp vao tang tnfdng kinh te cung nhff gdp ph^n hinh th^nh va phat trien ben vffng khu vffc doanh nghiep, Tai cac qud'c gia dang phat tri^n, he sinh thai khdi nghiep vin dang cf giai doan sd khdi, do do de phat tnen cac doanh nghiep khdi nghiep non tre (doanh nghiep mdi thanh lap) can cd Id trinh va sif hd trd tff phia nh^ mfdc. B^i vid't nay thao luan thffc trang phat tri^n cac doanh nghiep mdi thanh lap va kinh nghiSp hd trd cac doanh nghiep khdi nghiep tff mdt sd' quoc gia, tff do ham y chinh sach dd'i vdi viec tao mdi trffdng va nhffng hd trd cin thiet nham cai thi^n h6 smb thai khdi nghiep ndi chung v^ phat trien cac doanh nghiep mdi ndi neng.
Tiif khoa: Doanh nghiep mdi, doanh nghiep khdi nghiep, he sinh thai khdi nghiep, hd trd t^i chinh, kmh nghiem.
1. Dat v0'n dS
Cd nhieu quan diem ve doanh nghigp (DN) khdi nghiep, Mdt so' nghign cffu cho rang cac DN hoat ddng trong cac ITnh vifc sang tao nhff cdng nghe sinh hpc hay cdng nghe thdng tm mdi difdc coi la cac DN khdi nghiep, Tuy nhien, quan diim chung nha't thi cac DN khdi nghiep hieu theo nghia rong la cac DN do mot ca nhan hay mot nhdm cac ca nhan thanh lap lan dau tien, khdng phai tff viec sap nhap hay chia tach tff cac doanh nghiep da cd trffdc dd (Bili Thu Loan, 2017).
Cac DN nay ddng vai trd quan trong tao nen mdng ban dau dd'i vdi viec dinh hinh va phat tri^'n khu vffc DN trong tffdng lai (BiJi Thu Loan, 2016).
Ben canh dd, cac DN mdi non tre con l& dd'i trong thuc day canh tranh cua khu vu'c DN hien tai bdi kha nang tffdng thich vdi nhffng nhu cau cua thi tru'dng hi^n tai cung nhff sM nang ddng va linh hoat trong cd cS'u to chffc va boat ddng. Them vao dd, cac DN khdi nghiep ddng vai trd quan trpng dd'i vdi viec tao viec lam mdi chd nen kinh te', ma khdng cht ddn thuan la tao viec lam bo sung nhff cac DN gia nhap thi tru'dng trffdc do.
So5-Thang4/2019 43
TAP CHi CONG IHIfdNG
Mac du CO nhffng dong gop quan trpng, song khai niem Chinh phu khdi nghiep kha mdi me tai Viet Nam. Dieu nay cd nghTa, he sinh thai khdi nghiep ciia Viet Nam mdi trong giai doan dau phat trien, cac DN mdi thanh lap trffdc dd chffa thffc sff nhan dffdc sff quan tam chu y, chu ye'u phat trien mang tinh tff phat, thie'u sff hd trd cu the. Ke't cue, cac DN mdi trong trffdng hdp co the ton tai va tie'p tuc hoat ddng thi phan Idn cd hieu qua kinh doanh yS'u kem, khong cd kha nang md rdng quy mo san xua't, thie'u dinh hffdng chie'n lifdc va phat trien kinh doanh ma nguyen nhan chinh do thie'u vo'n ban dau cho hoat ddng kinh doanh va tie'p can thi tru'dng, Trong dieu kien thi trffdng tai chinh cua Viet Nam boat dpng chifa thifc sff hieu qua, kha nang tie'p cSn vd'n chinh thffc cua cac DN khd khan gay can trd de'n sff phat trien cua khu vffc cac DN mdi dan de'n tinh thie'u ben vffng trong tifdng lai. Bai vie't nay se thao luan mdt so' van de vi thffc trang cac DN khdi nghiep tai Vi§t Nam ndi chung va tren dia ban Ha Ndi noi rieng, ddng thdi phSn tich cac kinh nghiem hd trd dd'i vdi cac DN khdi nghiep cua mot so' qud'c gia trong khu vifc, tff dd de xuat bai hoc kinh nghiem va ham y chinh sach dd'i vdi viec phat tnen cac DN khdi nghiep hien nay.
2. Thijfc trang phat trien cac DN khdi nghiep
HiSn nay, cac DN khdi nghiep tai Viet Nam ndi chung va cac DN tren dia ban Ha Noi ndi rieng cd mdt so' bat cap sau:
ThU nha't, sau khi trai qua giai doan suy thoai, sd' lu'dng cac DN mdi gia nhap da cd xu hudng gia tang trd lai song so' lifdng cac DN giai the, ngffng hoat ddng v3n chie'm ty trong cao.
Tff nam 2016, so' lifdng cac DN mdi khong ngffng gia tang, nam 2018 dat 131.275 DN dang ky mdi. Nhff vay trong 3 nam gan day, so' Iffdng cac DN thanh lap mdi da tang trgn 15%. Nam 2016. ty le tang trffdng cac DN mdi dat tren 25%
(Bang 1), Tuy nhien, so' lifdng cac DN giai the, ngffng hoat dong ciang chie'm ty trong Idn, S6' Iffdng cac DN dffdc xep vao nhom nay nam 2018 la gan 100 ngan DN.
Thd hai, ty trong vd'n dang ky trung binh cua cac DN mdi cd sff tang len dang ke trong giai doan 2014- 2018. Tuy nhien, quy mo vd'n dau tif cua cac DN vSn difdc danh gia la ra't nho. So vdi nam 2014, quy md vd'n dau tff tang gan 2,5 lan, tuy nhien cung chi dat mffc tren 10 ty dong DN.
Thii ba. quy md vd'n chu sd hffu nho dong thdi kha nang tie'p can tai chinh chinh thffc cua cac DN mdi gap nhieu khd khan (Berger va Udell, 1988; Huyghebeart, 2005). Thffc trang nay dSn de'n nhffng rad can dd'i vdi boat ddng kinh doanh cua cac DNmdi. Cac ke't qua khao sat thffc te'tff Phdng Thffdng mai va Cdng nghiep Viet Nam (VCCl) cho tha'y cd gdn 65% cac DN vffa va nhd khdng the tiep can dffdc vd'n ngan hang. Dieu nay cung dong nghia cac DN mdi non tre gan nhff se rat khd cd dffdc ngu6n vd'n tin dung de dap ffng nhu cau san xua't - kmh doanh. Ke't cue, cac DN rat khd cd kha nang phat tnen bdi thie'u vo'n cho md rong san xuat.
Thii tu. hi: sinh thai khdi nghiep da cd nhffng bffdccai tie'n dang ke, tuy nhien ke't qua cdngbd' tff VCCI cung cho bi6't tai chinh v§n la mdt trong ba ye'u to' thap nhat trong he sinh thai khdi nghiep cua cac DN tai Viet Nam.
De phat trien, cac DN khdi nghiep can thu'c Bdng 1. So lifdng doanh nghiep khdi nghiep giai dogn 2014 - 2018
Cac chi so So doanh nghiep Von dang l<y (ty dong)
Nam 2014 76.956 432.286
Nam 2015 74 842 601.519
Nam 2016 94 754 891 094
Nam 2017 110.100 1.295.911
Nam 2018 131.275 1.478.100 Nguon: Bd Ke hoach vd Dau tu
KINH TE
hien ddng thdi nhieu giai phap de thiic day tinb than khdi nghiep cua doanh nhan, trong dd, cac hd trd tai chinh la mot trong cac yeu cau can thiet di tao nguon Iffc ban dau, hd trd cac DN cd the phat trien. ddng gop vao tang trifdng va tao viec lam dd'i vdi nen kinh te. Bdi vay, viec tie'p thu cac kinh nghiem thffc tiln tff cac quo'c gia khdi nghiep thanh cdng se cd y nghia ca ve mat khoa hpc va thtfc tiln. Theo dd, cac DN cd the tham khao mot so' bai hoc kinh nghiem ve hd trd khdi nghiep d mot so' nifdc trong khu vffc du'di day, tff dd cd the giup ham y chinh sach do'i vdi sff phat trien ciia cac DN khdi nghiep hien nay
3. Kinh nghi#m h6 trd tai chinh do'i vdi cac doanh nghiep khdi nghiep
3.1. Kinh nghiem ciia Singapo
Sff phat trien va thanh cdng cua cac DN tai Singapo la mot minh chffng ro rang cho thS'y vai trd cua vd'n dau tif ban dau doi vdi cac DN khdi nghiep. Vdi dinh hifdng va muc tien dat len hang dau la phat trien khu vffc DN, Chinh phu Singapo da thffc hien ra't nhieu cac chffdng tnnh tao nguon Iffc tai chinh ban dau lam dong Iffc cho phdt trien cac DN mdi.
D^ giam ap Iffc ve tai chinh ban dau, Singapo thffc hien chinh sach hffdng tdi viec giam cac ban che'tai chinh cho cac DN mdi thanh lap thong qua chinh s^ch thue. Theo dd, cac mffc thue' ffu dai dffdc thiet lap tren cd sd doanh thu thffc hien cua cac DN khdi nghiep. Cu the, cac DN thudc nhdm cd doanh thu dffdi 100.000 dd la Sing se khdng phai ddng thue'trong 3 nam dau tien. Cac DN cd doanh thu cao hdn ap dung cac mffc thue u'u dai 8,5% va 17% ne'u doanh thu dat lan lu'dt la du'di 300.000 hoac tren 300.000 dd la Sing. Cac khoan tai trd trffc tie'p cho cac DN mdi ciing du'dc Chinh phu Singapo thffc hien, tuy nhien khoan ho trd nay chi chie'm mot ty le nhat dinh so vdi nhu cau dau tff cua DN va can dam bao dffdc cac tieu chi nha't dinh theo cac dieu kien va dieu khoan rang budc dd'i vdi viec giai ngan va sff dung vd'n.
Cac DN cd nhu cau vd'n Idn hdn cd the tie'p can tff cac quy dau tff mao hiem. Cac quy nay dffdc Chinh phu Singapo khdi tao va quan ly tren cd sd lien ket giffa nguon vd'n cua Nha nffdc vdi
cac nha dau tff mao hiem va cac nha dau tffthiSn than de hd trd vd'n cho cac DN cdng nghe, hoac cac DN dd'i mdi sang tao mdi thanh lap.
Dieu dang chii y do la, mffc vd'n dau tff tff quy nay la dangke. Cac DN mdi phat trien theo dinh hifdng sang tao cd the cd dffdc dau tif to'i da 1,5 trieu ddla. So'vo'n dau tff cho cac DN cdng nghe khdi nghiep tff quy dau tif mao hiem cd the len de'n 10 trieu ddla. Day dffdc coi la cac mffc cam ket dau tu ra't Idn. Ngay ca cac DN khdi nghiep boat dpng trong ITnh vffc thffdng mai d Singapo ciing cd the tie'p can cac nguon vd'n nay vdi quy md vd'n dau tif ban dau khoang 300.000 ddla va mffc dau tff td'i da cd the len dat 1.000.000 ddla Smg.
Trong trifdng hdp cac DN khdng mud'n thie't lap mdt cS'u true vd'n vdi vo'n chu sd hffu ben ngoai, cac DN mdi th^nh Idp cung co the tie'p can d6 d^ng vdi cac khoan vd'n vay tff chtfdng trinh cho vay bao dam khdng gidi han so' tien td'i da ma cac DN c6 thi vay va du'dc Chinh phu ho trd bao hi^m td'i da 50% cho khoan vay tru'dc nguy cd rui ro pha san.
3.2. Kinh nghiem cua Malayxia
Cac DN khdi nghi§p d Malayxia cung gid'ng nhu'hau h6't cac DN mdi d cac qud'c gia khac, dd la ban chS' ve kha nang tie'p can ngudn vd'n ban dau trong giai doan mdi thanh lap. Tuy nhien, cd ca'u vd'n cua cac DN mdi tai Malayxia dffdc thie't lap ca tren cd sd cac ngudn vd'n s§n cd tff phia Chinh phu thong qua cac ngudn tai trd tff vd'n vay hoac vd'n chu sd hffu thupc chffdng trinh dd'i tac dau tff danh cho cac SMEs (SMEs investment partner Programe). Ben canh do, cac chffdng trinh thudc Bp Tai chinh Malaixia cung cho phep cac DN mdi cd du'dc nhffng cd hdi kha nang tie'p can cac ngudn tai chinh khdi nghiep vdi so' vd'n cung ca'p kha Idn tuy theo chifdng trinh'. Ngoai ra, nham hd trd cho he sinh thai khdi nghiep dinh hifdng phat trien cdng nghe cao, hffdng tdi hinh thanh trung tam sang tao va ddi mdi toiin cau chinh phu Malayxia thffc hien gdi dau tff vdi quy md vd'n thffc hien du'dc bao cao la 100 trieu USDl Them vao dd, de thu hut dau tff vd'n vao khu vffc nay, cac ffu dai cho cac ca nhan, to' chffc
So 5-Thang 4/2019 45
TAP CHI CONG THIflfNC
dau tu' mao hiem cung dffdc thffc hien thong qua chinh sach thu6'. Cu the, dd'i vdi cac "Business Angles" dffdc mien thue' khi dau tff vao cac DN mdi d giai doan dau khdi nghiep. Cac quy d^u tu' mao hiem tham gia vao hoat ddng nay ciing dffdc khau trff 100% thue ap dung cho boat ddng dau tu' va mien thu^'nhap khau thiet bi thupc gdi dau tff khdi nghiep. Chinh sach nay cung dffdc ap dung dd'i vdi cac ca nhan nam giff tff 30% co phan trong cac DN khdi nghiep trong thdi gian 2 nam difdi hinh thffc giam thue thu nhap ca nhan,^
3.3. Kinh nghiem cua Hdn Qudc Han Qud'c da thffc hien mot cd che khac biet tao nguon vd'n cho cac DN khdi nghiep noi neng va cac DN mdi thanh lap ndi chung thdng qua viec thanh lap san giao dich chffng khoan Newex- change (KONEX). Vdi sff xua't hien ciia san giao dich chffng khoan dac thu va chuyen biet danh cho cac DN khdi nghiep giup cac DN mdi chu dpng hdn trong thiS't lap ca'u triic vd'n phii hdp vdi chie'n lifdc kinh doanh cua DN va han che nhffng rang budc dinh Iffdng tff phia cung. Tham gia giao dich va dau tff vao co phie'u cua cac DN khdi nghiep chu yeu la la cac quy dau tur mao hilm, cac nha dau tu' thien than hoac cac dinh ch6' tai chinh. Dd'i vdi nha dau tif ca nhan va cac dinh che tai chinh tham gia dau tff dffdc yeu cau mffc vd'n dau tu td'i thieu dat 300 trieu Won (Khoang 250.000 do la My). Cac DN tham gia cd so' nam thanh ISp thu'dng difdi 10 nam, chu yg'u la cac DN boat ddng trong ITnh vffc cdng nghe va sinh hpc, Dieu kien niem yet giao dich dd'i vdi DN nay khdng qua chat che nhif yeu cau doi vdi cac DN dai chiing niem yet tren sd giao dich chinh thffc (KOSDAQ)". Ke tff khi thanh lap (nam 2013) den thang 6/2016, san giao dich nay da co 124 DN niem yet vdi sd' von dau tff tang nhanh chdng tff 468,9 ty Won (2014) len 5.200 ty Won (2016), Md hinh nay da gitip thao gS khd khan cOng nhff tao tiem life phat trien cac DN khdi nghiep d Han Qud'c vdi viec tao moi tnfdng thuan tien cho cac DN tie'p can vd'n cd phan ben ngoai tff ngay giai doan phat trien ban dau vdi sff tham gia chu ye'u tff cac nha dau tff mao hiem.
Ben canh viec tao l§p mdi trffdng thu hut vo'n cd phan dd'i vdi cac DN mdi, Chinh phii Han
Quo'c cung tich cffc tham gia cac gdi ho trd ddi vdi cac DN khdi nghiep, ke ca cac DN khdi nghiep tha't bai. Cu the, Chinh phii Han Qud'c cam ke't gdi hd trd gan 3 ty USD cho phat trien khu vffc cac DN mdi, trong dd ffu tien do'i vdi cac DN hoat dpng trong ITnh vffc cdng nghe thong tin.
Do'i vdi nhffng DN tha't bai sau khdi nghiep cung nhan du'dc hd trd tff phia chinh phii trdng gdi h6 trd 89 trieu USD danh cho do'i tu'dng nay.
Ngoai 3 dien hinh tren, Dai Loan hay Nhat Ban ciing la nhffng qud'c gia trong khu vffc dffdc biet de'n cd nhieu ddng thai ho trd cho phat tri^n cua cac DN mdi thanh ISp. Nhat Ban hffdng muc tieu vao cac khoan cho vay thdng qua Chffdng trinh cho vay do'i vdi cac DN mdi dtfdc chinh phii Nhat Ban thffc hien tff nam 2001 (New startup loan Programe) cho phep cac DN mdi vay khdng yeu cau ve tai san the' cha'p hoac cam ke't bao lanh cua ben thff ba trong thdi han td'i da 5 nam neu von vay sff dung cho muc dich bd sung vdn lifu ddng, va 7 nam ne'u vd'n vay dffdc sff dung cho dau tff vao may mdc thie't bi. Hay d Dai Loan, nen tang do'i vdi sif phat trien cua khu vu'c DN do la cac DN khdi nghiep dffdc hd trd ngay tff giai doan bat dau boat dpng thdng qua cac cdng ty tff va'n khdi nghiep va cac vffdn ifdm DN hd trd cac tff va'n tai chinh, ke't no'i doanh nhan thdng qua cac ke't nd'i va xay dffng tinh than khdi nghiep ngay tai cac trffdng dai hoc.
4. Ke't luan
Nhffng kinh nghiem neu tren cho tha'y phat trien cac DN mdi du'di each tie'p can tff khia canh cac ngudn Iffc tai chinh ban dau, cac DN mdi se gap phai rat nhieu khd khan va r a o c a n b d i tinh khong hoan bao ciia thi trffdng. Cac ngudn life phan bd thie'u hieu qua, dac biet trong cac qud'c gia cd thi trffdng tai chinh chffa thifc sff phat trien, Khi dd, cac chifdng trinh hoac chinh sach ciia Nha nndc mdt mat hifdng sff quan tam hdn ciia cac nha ca'p vd'n do'i vdi cac DN mdi. Theo do, cac DN Cling co the co difdc cac cd hdi td't hdn trong viec cd ca'u ngudn vd'n theo hifdng giam cac tac dong ciia rao can tai chinh, giup DN cd the hoat ddng d quy mo td'i uu hdn, nang cao hieu qua kinh doanh •
KINKTE
TAI LIEU TRICH DAN:
'Quy Cradle thudc Bp Tdi chinh cung cdp sd vdn len tdi 500 000 RM ddu tU vdo cdc cong ty cdng nghe
^htlpVAvww.blomberg.com/news/arlicle/2013-02-21/to-fund-a-starTup-go-to-Malaysia
^http://www.thestar com.my/news/community/20I4/ll/!9/govt-incentives-for-startups/
''Cdc DN niem yet tren sdn giao dich KONEX yeu cdu vdn diiu le >= 500 trieu Won, doanh thu thuan >= 1 ty Won. toi nhuan sau thue tif 300 Iri^u Won. Ben canh do, cdc DN nay cdng khong chiu rdng buoc bdi cdc quy dinh ve nghia vu cdng bd thdng tin theo cdc tieu chudn ke toan qud'c te. Cdc yeu cdu ndy duac xem la ihdp han rdt nhieu( khoang 30%) so vdi quy dinh niem yet ddi vdi cdc DN Iren sdn giao dich KOSDAQ.
TAI LIEU THAM KHAO:
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World Bank.
So 5-Thang 4/2019 47
TAPCHJCflNGTHIftfNS
Ngay nhan bai: 12/3/2019
Ngay phan biSn danh gia va su'a chffa: 22/3/2019 Ngay cha'p nhan dang bai: 31/3/2019
Thong tin tdc gid:
1. PGS.TS. VU DUY HAO Trifdng Dai hoc Kinh te qud'c dSn 2. ThS. NGUYEN MINH P H U O N G Trifdng Dai hoc Cdng nghiep Ha Noi 3. N G U Y I I N T H I P H A
Ldp QTKDCLC KIO - Trffdng Dai hpc Cdng nghi0p Ha Noi
DEVELOPING START-UP COMPANIES:
CURRENT SITUATION AND INTERNATIONAL EXPERIENCE IN PROVIDING FINANCUL SUPPORTS
FOR NEW ENTERPRISES
• Assoc. Prof, Ph.D VU DUY HAO National University of Economics
• Master, NGUYEN MINH PHUONG Hanoi University of Industry
• NGUYEN THI PHA High quality Business Administration Class,
Hanoi University of Industry ABSTRACT:
Start-up companies play an important role in every national economics, promoting new creative ideas, creating jobs, contributing to economic growth as well as contributing to the establishment and sustainable developemt of the business sector. In developing countnes, startup ecosystems are still at their initial stages, hence start-up companies need supports from goverments. This paper is to discuss the current situation of the development of start-up companies and experience of some countries in supporting start-up companies, thereby suggesting some policy implications of creating the environment and providing necessary supports for start-up companies in general and new enterprises in particular.
Keywords: New enterprises, start-up companies, startup ecosystems, financial support, experience
