Gwangju Buk-gu Prepares Support Measures for Small Business Owners Through Big Data Analysis

[Asia Economy Honam Reporting Headquarters Reporter Kim Yukbong] Buk-gu, Gwangju Metropolitan City (District Mayor Moon In) announced on the 3rd that it conducted big data analysis on the local commercial district to help local small business owners respond to changes in the business environment caused by COVID-19.

This big data analysis was conducted based on public data such as national tax statistics and the Small Enterprise and Market Service, analyzing the status of business openings and closures as well as daily life-related industries over the past five years.

First, the total number of businesses in Buk-gu is 24,898, with food service and retail accounting for 63%.

From 2015 to March of this year, there were 14,895 newly opened businesses, with the most common industries being telecommunication sales, general restaurants, and casual dining. Closed businesses numbered 10,126, mainly general restaurants, instant sales manufacturing and processing, and health functional food general sales, with a closure rate of 68.3% over five years.

In particular, during the first quarter of this year, the period of COVID-19 spread, there were 759 startups and 556 closures, recording the highest closure rate of 73.3% in the past five years.

As of December last year, the status of 40 daily life-related industries such as retail, food and lodging, and services totaled 16,824, an increase of 3.59% compared to the previous year, with general restaurants (3,664), telecommunication sales (1,692), and beauty salons (1,007) ranking highest.

Among these, coffee beverage businesses, telecommunication sales, and real estate brokerage saw significant increases, while gas stations, stationery stores, and mobile phone retailers decreased considerably.

Buk-gu has disclosed the results of this analysis on the district’s official website for local small business owners and prospective entrepreneurs, and plans to use it as policy data for supporting small business owners, revitalizing the local commercial district, and improving the business environment.

Mayor Moon In of Buk-gu said, “Based on this big data analysis, we will prepare customized support measures considering the characteristics of each region and industry in the future.”

This content was produced with the assistance of AI translation services.