Analysis of Strengths, Weaknesses, Opportunities and Challenges to Promote Start-Ups Activities of the Youth in Laocai

Abstract

Lao Cai is the northern border province of the country. In recent years, Lao Cai’s economy has developed rapidly, in 2021 the whole country is affected by the Covid-19 epidemic, but the growth rate is estimated at 5.33%, GRDP is estimated at 33,643.48 billion VND. This includes the role of youth in local economic development. Despite the difficult economic situation, Lao Cai province has always paid attention to and encouraged youth start-up activities. Up to now, the province has nearly 500 economic development models owned by young people with incomes of VND 50 million or more; there are 10 youth clubs for economic development at district level, 85 clubs at commune level; 49 cooperative groups and 25 start-up cooperatives, nearly 600 start-up businesses. This has confirmed the great role of young people in establishing themselves and starting a business. However, for young people to have a clear orientation in starting a business, it is extremely important to study strengths, weaknesses, opportunities and challenges and combine those factors together in entrepreneurship activities for young people. importance. Thereby, helping the government have appropriate support policies for young entrepreneurs in the future.