Roaming to protect profit margins
Optimism is gradually returning to the business community in the second half of 2025, but accompanied by a difficult problem of increasingly expensive operating costs.
According to HSBC's latest Global Trade Pulse report, 66% of global businesses expect costs to continue to escalate in the next 6 months. To adapt to this "price storm", owners cannot just sit and wait for the market to stabilize.
The survey data shows that more than three-quarters (76%) of businesses are proactively implementing financial protection measures. Notably, the response strategy is listed as top-notch, including shifting the cost burden to customers, in addition to efforts to renegotiate contracts and invest in technology.
This shows that, although businesses are trying to mobilize themselves using technology, adjusting selling prices to "share" pressure with consumers is still a reality that is happening in a context of volatile trade.
Balancing price increase and optimization
In the Vietnamese market, businesses' reactions are more diverse to avoid shocking the market. In addition to the price problem, domestic units are focusing on technology to cut costs from within.
90% of Vietnamese enterprises have been considering applying AI and machine learning. Their goal is not only to keep up with trends but also to solve "money-making" problems such as optimizing supply, reducing inventory and forecasting risks more accurately.
Mr. Surajit Rakshit, Countrywide Director of Global Trade Solutions, HSBC Vietnam, commented: "Our research data shows that Vietnamese enterprises are adapting to the current context. While concerns about revenue have decreased slightly compared to before, businesses are still aware of the potential risks."
Cash flow worries still exist
Although businesses are showing initiative, the real financial health of many units is still a matter of discussion. The report revealed a hidden corner when up to 21% of businesses admitted to facing great pressure on liquidity or cash flow from 2024.
In that context, Mr. Surajit added: "Operating mobile capital is no longer just a regular financial activity but becomes a strategic lever for growth and sustainability".
Thus, behind the expected growth figures is a silent struggle of businesses to balance cash flow. And in that process, both businesses and consumers are having to shoulder the costs arising from the times together.
The Trade Pulse report is based on the opinions of 6,750 employees who have a decision-making role at enterprises with international operations. The survey is conducted from October 6-21 of 2025 in 17 markets: Bangladesh, Brazil, France, Germany, Hong Kong, India, Indonesia, Italy, mainland China, Malaysia, Mexico, Singapore, Spain, UAE, UK, USA and Vietnam. The survey sample includes 250 responses in each market, except for Hong Kong (China) (500), mainland China, the UK and the US (each market 1,000). Of the 6,750 surveyed enterprises, 683 recorded global revenue of over 2 billion USD in the past 12 months, 2,448 enterprises with revenue from 500 million to 2 billion USD and 3,619 enterprises with revenue from 50 million to 500 million USD.
