Gyeongsangnam-do has implemented various support policies this year that small businesses, which are compared to ‘sore fingers’, can really feel.
The province announced on the 4th that it was selected as an outstanding small business support organization at the ‘Korea Small Business Convention 2022’ held at KINTEX, Ilsan, Goyang-si, Gyeonggi-do, and received praise from the Minister of Public Administration and Security.
The competition is held annually to boost the morale of small business owners and spread best practices and achievements. Hosted and overseen by the Ministry of Small and Medium Enterprises and Start-ups, the Small Business Market Promotion Corporation, and the Small Business Federation, it discovers and rewards outstanding small businesses and contributors and support groups who have contribute to their development.
This year, 11 organizations were selected as outstanding support organisations. Gyeongnam-do was the only provincial unit to receive the award, and received good reviews for providing various support to small businesses suffering from COVID-19.
First of all, the scale of policy fund loans for small businesses was significantly increased from 200 billion won last year to 300 billion won this year. The policy fund guarantee fee was also expanded to 50-100% for one year. In particular, 100 billion won was organized as a ‘temporary temporary fund’, which significantly relaxed loan conditions, such as loans up to 10 million won regardless of credit rating and full support of interest and guarantee fees for one year.
Helping small businesses with online marketing. Although the products are competitive, offline sales are limited, and 99 small businesses have launched an online shop support project. Online marketing costs such as brand design were also supported.
In order to expand the establishment of an online market and increase sales, a special exhibition was promoted by operating an exclusive Gyeongnam-do hall in the TMON online shopping mall. It implements platform access and online marketing projects for 14 traditional markets and 303 stores in the province. This year, it supported the online development of 89 stores including Bansong Changwon Market.
In order to provide a stable footing for the involuntary closure of small business owners or work accidents, social safety net building projects were promoted, such as employment and industrial accident insurance for one-person self-employed people, and yellow umbrella hope subsidies.
The Small Business Hope Dream Kit Project, a customized step-by-step process for tailored support for each stage of growth, is split into a ‘Management Focused Dream Kit’ and a ‘Restart Kit Dream’ for potential founders and 580 small businesses in crisis.
The Restart Dream Package supports up to KRW 2 million in business closure costs to facilitate business cleanup for small businesses that are scheduled to close or have closed within one year of the application date. As a small business start-up success bridging project, we help small business owners to successfully start and settle their business.
Provided by Gyeongnam Provincial Office
He focused on revitalizing the economy by expanding support for the issuance of Gyeongnam Love Gift Certificates and local love gift certificates in cities and counties. This year, the provinces issued 45 billion Gyeongnam love gift certificates, and cities and counties earned 914.7 billion local love gift certificates to help small businesses increase their sales.
Meanwhile, in this competition, Gimhae City received the Small and Medium Enterprise Business Minister’s Commendation, and Jayeon Total City Gimhae Beauty Academy received the President’s Commendation for management innovation in the beauty industry.
Seo Chang-woo, head of the small business policy department in Gyeongsangnam-do, said, “Next year, as a reliable partner for small businesses, we will always listen to the voices of the field and actively promote support policies to help small businesses . stabilize their management and strengthen their ability to compete.”
