• The Prince’s Trust

-> Training and mentoring

-> Support to help writing a business plan

-> Support to apply for a low-interest loan

-> Getting from 1000 to 5000 pounds

-> Suitable entrepreneurs aged 18 to 30 but dont have a college degree

• Decision No. 1269/QD-TTg was issued October 2, 2019, and forms the framework for the establishment of the National Innovation Center (NIC). The NIC provides training and support for young enterprises and partners with international technology companies like Amazon and Google

• Endeavor Vietnam: This program supports high-impact entrepreneurs by providing them with resources to scale their businesses faster. Endeavor Vietnam focuses on creating a multiplier effect by inspiring and investing in high-growth entrepreneurs

UK:

• Innovate UK SMART Grants: These grants are highly competitive and support game-changing and commercially viable innovative ideas. They are open to businesses of all sizes and sectors

• Start-Up Loans Scheme: This scheme provides low-interest loans and mentoring support to individuals aged 18 or over who are starting or running a business in the UK

• The British Business Bank’s Finance Hub also offers additional finance options for smaller businesses.

• VNG: Known as Vietnam’s first unicorn, VNG is a tech company specializing in online gaming, digital content, and social networking. They have received significant support from the government1.

• MoMo: A leading fintech company in Vietnam, MoMo offers a mobile wallet and payment platform. They have also received government backing to expand their services

UK:

• GoodBox: This fintech company, which digitalizes donation boxes, received a £300,000 grant from Innovate UK1. Their innovative approach has significantly impacted the charity sector.

• Enterprise Nation: Founded by Emma Jones, this platform connects small businesses with resources and support. Emma used a Start-Up Loan to launch her business, which has since become a vital resource for entrepreneurs

Tax Incentives: Reduced corporate income tax rates and exemptions for startups and businesses in certain industries or regions.

Financial Support: Grants, low-interest loans, and venture capital from government-backed funds.

Business Incubators and Accelerators: Support programs providing mentorship, training, and resources for early-stage startups.

Regulatory Support: Simplified business registration processes and streamlined procedures for starting and operating a business.

Export Incentives: Assistance for businesses engaged in international trade, including export credit and marketing support.

New Enterprise Allowance (NEA):

A program designed to support individuals who want to start their own businesses. It provides a range of support and financial assistance to help individuals turn their business idea into reality, including:

• Accessing financial assistance to help launch and grow the business

• Receiving support and guidance from an experienced mentor

• Developing a viable business plan and identifying the critical steps to success

• Accessing a range of resources and training programs to help build key skills

In the UK, several government support programs are available for entrepreneurs:

1. Start Up Loans: A government-backed scheme providing loans and mentoring to new businesses. Entrepreneurs can borrow up to £25,000 at a fixed interest rate.

2. Innovate UK: Part of UK Research and Innovation, it offers grants and funding for innovative projects in various sectors to support business growth and development.

In Vietnam, several government support programs are available for entrepreneurs:

1. National Technology Innovation Fund (NATIF): Provides financial support for startups engaged in technology innovation, research, and development.

2. Vietnam Startup Ecosystem Development Project (Project 844): Offers funding, training, and networking opportunities for startups, with the goal of creating a robust startup ecosystem by 2025.

United Kingdom:

1. Start-Up Loans:

   • A government-backed scheme that offers personal loans for business purposes, ranging from £500 to £25,000. It also includes mentoring and support.

2. Enterprise Investment Scheme (EIS) and Seed Enterprise Investment Scheme (SEIS):

   • These schemes offer tax reliefs to individual investors who purchase new shares in your company, making it easier to attract investment.

Vietnam:

1. National Technology Innovation Fund (NATIF):

   • Provides funding to innovative technology projects, particularly those focused on developing high-tech industries.

2. SME Development Fund (SMEDF):

   • Offers preferential loans to small and medium-sized enterprises (SMEs), particularly those involved in innovative and high-tech sectors.

• Decision No: 844/QD-TTg issued in 2016. The decision outlines policies for Vietnamese start-ups including:

  • Setting up a national startup ecosystem portal

  • $42M for 800 startup projects and 200 startups, including 50 enterprises funded by venture capital

UK

• ART Business Loans - West Midlands

  • Offer £10,000 to £150,000 to small startups that cannot obtain loans from bank

• The British Business Bank provides government-backed enterprise finance guarantees.

  • They help small businesses grow by offering finance through guaranteed loans of between £1,000 to £1.2 million

• Enterprise Nation: provides help for new entrepreneurs by:

  • Training programs

  • Professional Counselling

  • A variety of events for entrepreneurs, including meetups with professionals, workshops, etc.

• While there aren't many organizations in Vietnam to help entrepreneurs, the government has introduced policies to help young entrepreneurs

  • In 2017, policies were issued to encourage students to take up entrepreneurship. This includes training support, startup clubs at universities, startup finance, etc.