An important part of Emakase's mission is to understand the mechanism of the Vietnam economy, as well as the markets and stakeholders within it. This article kick-starts our Market Insight series, where our team provides in-depth research and analysis on market-relevant topics.
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Consulting is a well-rounded and established industry. From all around the world, consulting businesses provide insightful advisory and professional services to other businesses in different fields, supporting them in tackling industries’ problems and enhancing market’s performance. In Southeast Asia alone, the consulting market reported a size of $9,479 million USD in 2020 (1), with most of the key players in the market consist of multinational consulting firms. In the context of Vietnam, a relatively new landscape for consulting, with consulting firms varies within consulting Type M and S, which specialize in management, strategy, operations and M&A, such as McKinsey & Company, Boston Consulting Group, and Bain & Company, and consulting Type A that specialize in audit, tax, corporate and finance services such as KPMG, PwC, Deloitte, and EY. With high level of professionalism and extensive resources, these consulting firms often dedicate their services to customers as established as themselves, which are large corporates, government bodies, and powerful non-government organizations. Interestingly, the majority of all economies are made of small and medium enterprises (SMEs). In Vietnam, there are about 785,000 SMEs within the economy, which accounts for more than 98% of enterprises in the market (2). These businesses, regardless of their scales, contribute to around 50% of the national GDP.
Given the competition in the market, these SMEs are in constant need to grow and develop their businesses to a sustainable scale with limited resources and knowledge, and constantly face internal strategic and management challenges, which makes them an incredibly potential market for professional consulting industry. Yet very few local SMEs have access to private consulting services (3) due to their inability and unwillingness to pay the expensive consulting fees offered by large consulting firms, which often range from USD $500-1,500/day), or even local consulting firms that range from USD 350-1,500/day (4).
Emakase is established to bridge the gap between SMEs and the resources they need to grow. As a consulting firm, our services are made accessible for SMEs and startups who seek to grow their businesses sustainably. Emakase offers comprehensive business diagnosis and tailored services for each customer, along with certified expertise in business scaling and development. With a customer-centric mindset and professionalism at heart, we seek to foster a high-performing, growth-oriented community of businesses in Vietnam.
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Emakase is a boutique innovation and business consulting house. From simple shop-and-go to custom-designed services, we efficiently mobilize our expertise to meet your business needs. Start the conversation and tackle your business’s challenges with us today via hello@emakase.co.
