Factors Affecting Successful Business Start-Up: A Case Study of Small and Medium Enterprises in Ho Chi Minh City

Globalization and international economic integration have significantly impacted Vietnam's economic development, including the business community. It causes small and medium enterprises (SMEs) to face differences in many aspects related to business and commercial activities such as business thinking, perception, belief, customer psychology, behavioral culture. Thus, the author had the research on successful business Start-up at SMEs is of particular interest because of the role of enterprises in economic growth, job creation, and income improvement for society. The study of successful entrepreneurship at SMEs is also a significant research area for policymakers and business managers. The research goals are to explore critical factors affecting successful business Start-up, thereby identifying appropriate policy recommendations to develop the business system in the economy. Therefore, the author surveyed 500 managers managing the SMEs in Ho Chi Minh City (HCMC). The author applied structural equation modeling (SEM). The scientific novelty showed five factors affecting successful business Start-up at SMEs with a significance of 1.0 percent. Determinants included (1) human capital, (2) financial access, (3) networking capability, (4) business strategy, and (5) organizational structure. Keywords: successful business start-up, small and medium enterprises, Ho Chi Minh City.