Starting a business in Vietnam is what many entrepreneurs and business owners desire. However, being able to start a company does not necessarily mean success. Globally, 90% of startups fail and that’s a scary figure to look at.
The truth is, no one business fails without any signs or warnings. For many business owners, there are many indicators you can observe and use them to determine that your business may not work out in the long run.
If you detect them earlier, you can cut down your losses significantly by going through a company dissolution process in Vietnam.
Recognising the signs that your business is failing is vital for survival. Here are some of them to indicate that your business may be in serious trouble.
1. Low Revenues and Sales
The very obvious reason that entrepreneurs start a business in Vietnam is to increase sales and generate profits. If your sales and revenues have been consistently low for many months and you are struggling to find any ways to boost them, this is a great sign of failure.
2. Delayed Bill Payments
Unable to pay your bills on time is a big no-no. Your vendors will lose trust in you and it is hard to continue operating your business in Vietnam. Worse, you can get yourself into legal complications and destroy your business.
3. Lack of Competitive Edge
Not having a competitive edge means you have nothing unique to make customers choose you over your competitors. In other words, your business will not grow and your sales will suffer.
A company dissolution in Vietnam requires a high level of expertise and professionalism to carry out. It involves many tedious financial and legal red tapes, which may take a long time to complete.
Therefore, a company dissolution in Vietnam should be something that you must get assistance from a reputable company dissolution expert.
A company in Vietnam can only be dissolved when the below one of the below circumstances occur:
A company in Vietnam must meet the following requirements to be dissolved:
Cekindo is one of the leading companies with a wide experience in business consultancy and company dissolution in Vietnam.
We have helped a lot of businesses in Vietnam in the past, guiding business owners step-by-step with the company’s dissolution process. We are a legally registered firm with the company dissolution process regulated by Vietnamese laws and authorities.
The dissolution and liquidation of a company can be very lengthy and complicated, especially when it comes to the paperwork and procedure.
However, our legal consultant at Cekindo can deregister or dissolve your company smoothly and efficiently, which saves you time and resources.
To start the process of company dissolution in Vietnam, contact us via the form below.