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05 Steps to Establish and Manage Business Properly

05 Steps to Establish and Manage Business Properly

VIVA BUSINESS CONSULTING là công ty tư vấn doanh nghiệp được tín nhiệm bởi hằng ngàn khách hàng danh tiếng từ năm 2006. VIVA cung cấp nền tảng quản lý toàn diện và nguồn lực thực thi theo cách kết hợp đồng thời của: Luật pháp và thủ tục hành chính trong kinh doanh – Quản lý thuế và kế toán – Quản trị quan hệ lao động – Quản trị tài chính doanh nghiệp – Quản trị và kiểm soát nội bộ. Năng lực của chúng tôi giúp khách hàng lường trước các rủi ro, tối ưu chi phí, kiến tạo lợi thế kinh doanh.

VIVA is a business consulting company, specializes in business compliance procedures according to local business laws and regulations since 2006. VIVA has been continuously trusted by thousands of well-known clients since 2006. We are creating added value for clients by offering one-stop business platform with exclusive and tailored-made services related to market entry and mandatory business compliances. We keep our client’s good standing in lawful and optimal manners whenever they are working and doing business in Vietnam.

05 Steps to establish a company and manage business effectively

Enterprises need to consider many different issues when they establish a company. There are many basic steps that can help you to manage and prevent risks when starting a business in Vietnam. VIVA would like to share 05 steps to establish a company and manage business properly for a new business.

05 Steps to establish a company and manage business effectively
05 Steps to establish a company and manage business effectively

05 steps to establish a company and manage business properly

01. Choose the Forms of business – Capital Structure

  1. There are 5 basic Forms of Business: Limited Liability Company ( 1 member, 2 members above), Joint Stock Company; Private Company; Partnership. Each business form has its own characteristics, if you can handle it correctly, you might get many advantages in the management and operation in the future, otherwise, it might hinder and cause unforeseen risk.
  2. It requires to have knowledge about charter capital, capital structure, flexible capital, fixed capital, tax shield, capital risk, capital contribution procedures… before filling in business registration form to avoid conflicts with actual activities, even wasting tax costs, potential risks about responsibility and other administrative obligations.

Note: Filling in the application and submitting the application to grant the business license which is as simple as filling in motorbike registration. You need to determine the plan, business scale, financial organization, business management organization … so that you could choose a suitable form of business.

02. Fully implement procedures for compliance in business

Note: These compliance procedures are mandatory to establish a company and manage business effectively unless the business is no longer in operation. If enterprise complies with the procedures proficiently, the enterprise can save costs as well as increase the effectiveness of business goal.

03. Setting up an internal management system

  • In preparation for development, any business needs to set up the standard operating procedure to connect resources and manage risk.
  • The standard operating procedure should be linked to functional department of the organization, the job description, key performance indicator, remuneration policy with rules and discipline.
  • When you set up and operates successfully procedure, the standard of forms, you can consider requesting prestigious rating organizations such as BSI Vietnam, Bureau Veritas to certify ISO: 9001, and then applying resource management software such as ERP and SAP …

Note: Without an internal management system, the work will be overlapped, all things will “put on boss’s head”, at this time, the boss works as hard labor while the employees receive monthly salary with complaints about boring job. When you have applied and successfully operated ERP, SAP, … the organization will operate on its own, exploiting the resources including manage employment relations, now the business owner will not have to do anything except thinking about company strategy and meeting partners

04. Managing by numbers

  • All business activities will be expressed in each data in financial reports. Reading and understanding financial reports is a way of collecting – controlling information and resources in business quickly and reliably.
  •  Create a budget estimate – financial plan, analyze revenue, cost, business result from Financial report. In this way, you look like holding a smartphone in your hand to review and control field resources of outside right in the air-conditioned room.

Note: These are expertise required, you only need a professional accountant instead of joining accounting classes.

05. Corporate Culture

Building corporate culture is the final step in 05 steps to establish a company and manage business effectively

  • Identification, building, nurturing mission – vision – core value
  • Each different business will have a different nature and identity, there are different standards of behavior, so there will be different kinds of corporate culture. There is no definition of good corporate culture or bad corporate culture, it is the appropriate or inappropriate culture, it will contribute to develop or restrain the business operation.

Note: Corporate culture is the combination of the mission implementation process, reaching the vision based on core values ​​and through management tools. At the root of a business is the corporate culture which has come to define the future of that business and worth investing in.

These 05 steps to establish a company and manage the business might reduce risks for a new business. In addition, professional knowledge and multi-industry experience from business consulting agencies are a powerful resource and tool for many domestic and foreign businesses. Enterprises should choose a reputable consulting firm to accompany from the beginning, forming a consistent and transparent cooperation system in the business development process.



VIVA is the local expertise for local business compliance procedures, has been trusted by thousands of foreign investors, multinational companies from Europe, Japan, Singapore, India, Korea, USA… for the required business compliance procedures by local laws and regulations since 2006.

Thanks for consistent of practice expertise in Business laws - Employment relations – Tax and accounting – Corporate finance – Corporate services, VIVA has been successfully providing service for thousands of leading companies in such industries: Garment, energy, pharma, advertising, agricultural…

VIVA keeps its signature by offering one-stop business platform with regard to market entry and the mandatory business compliances. We ensure for our client’s good standing, in lawful and optimal manners whenever they are working and doing business in Vietnam.

Thanks to a unique combination of local expertise and global experiences, VIVA BUSINESS CONSULTING is the one-stop solution for the required compliance procedures in Vietnam for foreign investors and experts. We are still here since 2006s because of our thousands of satisfied clients and our employees. Our staying power is a testament to the professional resources, and so much more.


VIVA not only manage business required procedures by laws but firstly places client’s compliance and good standing, in the optimal methods when offering any solution, and integrated with our intensive resources that allow us to prevent most of the risks in advance, create more benefits, advantages and business inspiration for entrepreneurs.

The insights and consistent backgrounds in Business Laws – Accounting and Corporate Finance – Tax Management – Labor Relations and Payroll – Serectarial and consistent with our exclusive standard operation processes, consisting of consultation – implementation – pratice operation help us fully protect client interests as one-stop solution.


“If you ask any successful businessperson, they will always have had a great mentor at some point along the road.”

Read more:

3 Steps To a Successful Financial Statement Audit

05 Key Steps to Set Up an FDI Company in Vietnam

Labor Compliance Procedures – Internal Labor Regulations

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