This study assesses the motivations, perceived success factors and business problems experienced by entrepreneurs in Vietnam. It also compares the results between the northern and southern regions of the country. Using data from a survey of 378 Vietnamese entrepreneurs in Hanoi and Ho Chi Minh City, results show that Vietnamese entrepreneurs are motivated by the ability to provide jobs for themselves and family members, to gain public recognition, and to prove they can successfully run a business of their own. Important perceived entrepreneurial success factors include friendliness toward customers and a good product at a good price while significant business problems include too much competition, unreliable employees and the inability to obtain both short-term and long-term capital. Results also show a number of city/regional differences in motivation, success factors and perceived success. Implications for policymakers in Vietnam and other emerging economies are also presented.