Da Nang small businesses face difficulties

Small- and medium-sized enterprises (SMEs) in the central coast city of Da Nang were struggling to make profits, said Van Huu Thiet, vice chairman of the provincial SME Association.

According to a survey, over 50 per cent of SMEs said they had to scale back their business operations, 20 per cent did not make any profits and broke even, and 27 per cent faced bankruptcy, said Thiet.

In addition, 82 per cent of SMEs could not secure sources of capital. Also, the sharp cost increases of inputs such as fuel, electricity and transportation had exacerbated SME losses.

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