“Sponsoring 100% Business Setup Fees, BIZ MBBank Assists SMEs in Cost Optimization.”

The Entrepreneur’s Journey: A Serious Endeavor

The path of entrepreneurship is often fraught with challenges, and it’s certainly not a game. For startups, there are always new goals and ambitious plans, but these come with financial, technological, and legal hurdles to overcome. Operating costs can be a significant burden for small and medium-sized enterprises (SMEs), and initial capital is rarely enough for long-term sustainability and growth. Their smaller scale can also make it difficult to secure suitable loans, causing them to miss out on valuable business opportunities.

In the era of the Fourth Industrial Revolution, the trend towards digitalization presents both opportunities and significant challenges for SMEs. A lack of resources to invest in technology and digitalization can hinder their ability to improve management, business processes, and productivity.

Furthermore, many businesses face legal challenges due to a lack of in-house legal expertise or insufficient funds to engage professional consulting services. This can leave them confused and vulnerable to risks when navigating procedures related to production, business operations, registration, intellectual property rights, and more.

Businesses often face financial, technological, and legal challenges from the very beginning of their entrepreneurial journey. Source: Freepik

In reality, modern services and platforms can provide a much-needed boost to help businesses overcome these obstacles, stand firm in the face of challenges, and thrive. For example, the BIZ MBBank digital platform from Military Commercial Joint Stock Bank (MB) continues to support the SME community by offering advanced products and services that cater to their diverse needs.

MB Supports SMEs: 100% Company Formation Costs Covered

MB understands the needs and challenges faced by Vietnamese businesses, and they have consistently offered support and incentives for SMEs. Most recently, the bank introduced a package to sponsor 100% of company formation costs to provide financial and legal assistance to startups using BIZ MBBank. As part of this initiative, SMEs registering for BIZ MBBank services will receive free and rapid legal advice and support with company formation procedures from one of Vietnam’s leading law firms.

Additionally, to address technological challenges, BIZ MBBank offers a comprehensive digitalization solution through modern and flexible utilities that any SME would require. These include opening a bank account online in just 5 minutes, free domestic and international online money transfers, and super-fast online loan disbursements and guarantees. BIZ MBBank’s digital services have been, are, and will continue to empower businesses to confidently ride the wave of digitalization in the 4.0 era.

MB is one of the first banks in the market to introduce a range of policies to accompany the SME community. Notably, the BIZ MBBank digital banking platform is highly regarded for its in-depth digital solutions across multiple products and services, prioritizing speed and convenience for businesses. Along with practical utilities and attractive incentives, efficient and effective customer care also makes BIZ MBBank a trusted partner for SMEs in various industries.

Information Box: Startups will be supported with 100% company formation costs when they register for BIZ MBBank under a special promotion program. Register here.