Vietnamese Youth Entrepreneurship: The Role of Cultural Capital

Abstract

Vietnam is among the countries with the highest growth rates of entrepreneurs in Southeast Asia. However, the challenges posed by the global economy have resulted in many young individuals experiencing difficulties in increasing sales of entrepreneurial products. This study aims to investigate the role of cultural capital in overcoming the limitations faced by young Vietnamese entrepreneurs. Primary data were collected through in-depth interviews with a sample of 20 young entrepreneurs in the field of community tourism (homestay) to evaluate the influence of cultural capital on their entrepreneurial activities. The findings indicate that cultural capital significantly aids young entrepreneurs in effectively promoting their products within the community tourism sector and in establishing a strong brand identity. The results suggest directions for policy development to support young people in enhancing their cultural capital and leveraging it to formulate effective business strategies within the evolving economic context.