'It's OK to Fail Once'... Gyeonggi-do Provides Customized Support for 'Re-entrepreneur Small Business Owners'

Data image [Asia Economy DB]

[Asia Economy Reporter La Young-cheol] Gyeonggi Province will provide customized support for small business owners who are struggling due to lack of funds or are challenging re-startup after failure.

According to the province on the 22nd, the support targets 40 people in four sectors: food service, wholesale and retail, service, and manufacturing. Those who closed their businesses before the end of December last year and wish to restart this year can participate.

Selected candidates will receive 're-startup education' along with 'customized consulting' from professional counselors on practical and suitable business operation directions.

After completing the education and registering their business within the province, they will receive support for commercialization costs such as facility installation and promotional marketing, up to a maximum of 20 million KRW.

Guarantee support for re-startup funds, including operating and facility funds, is available up to 100 million KRW. Even if there is an existing guarantee amount remaining, additional guarantee support can be provided within the guarantee limit.

Starting this year, follow-up management will also be provided, offering consulting and promotional expenses support for small business owners who received support in the previous year. Applications can be submitted in person or by mail to the Gyeonggi Market and Commercial Promotion Agency with the required documents by the 31st of next month.

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