13.10.2022, 08:40

Mastercard and Grab launch programme to boost entrepreneurship in Viet Nam


The collaboration is part of Strive Community, a global philanthropic initiative developed by the Mastercard Center for Inclusive Growth and Caribou Digital, which aims to support the resilience and growth of five million small businesses around the world.

The “Small Business, Big Dreams” regional programme includes the launch of two online business courses for Grab’s drivers and delivery partners aspiring to start new businesses, and small business owners seeking to grow in a competitive digital economy. It aims to enable small businesses to reach their full potential by supporting them to digitise their operations, unlock their access to financial services and more effectively participate in the digital economy.

“Many Southeast Asians working in the informal sector aspire for more, but the reality is that a lot of them do not have the means or the opportunity to access quality training programmes. Through our partnership with the Mastercard Center for Inclusive Growth, we hope to give gig workers and small businesses a boost to get started. Our “Small Business, Big Dreams” programme will equip them with business knowledge and practical skills through a structured learning journey tailored to their needs and interest areas,” said Cheryl Goh, Group Head of Marketing and Sustainability, Grab.

“The digital economy offers a range of possibilities and opportunities that can help businesses of all sizes be more resilient and grow. Mastercard is delighted to work with Grab on this initiative that will boost digital capacity and inclusion of aspiring entrepreneurs and small businesses post-pandemic,” said Payal Dalal, Senior Vice President of Social Impact, International Markets, Mastercard Center for Inclusive Growth.

Small businesses play a vital role in Viet Nam, contributing up to 45 per cent of GDP. Despite 80-90 per cent of small- and medium-sized enterprises in Southeast Asia losing income due to COVID-19 lockdowns, many were able to skirt this hit by going digital, with online profits rebounding more quickly. This resilience is what this micro-learning programme seeks to bring to an abundance of small businesses and aspiring entrepreneurs across the region.

The two new online courses, namely the Driver Entrepreneurship Toolkit and the Small Business Toolkit, were created based on survey insights from over 500 driver-partners and 100 small businesses in Viet Nam. Although almost all small businesses surveyed use smartphones for their businesses, 57 per cent still rely solely on paper and pen to manage their businesses.

Mastercard and Grab have also engaged leading local small business experts, such as Tumbu, WISE, and Bayan Academy, to jointly develop the online courses. The courses, which be comprised of 20 short video lessons each, and provide practical steps to address the challenges frequently faced by small businesses and first-time entrepreneurs.