Customized Support for Small Business Owners, Gyeongnam Province Implements 'Small Business Hope Dream Package'

Targeting 800 Small Businesses Including (Prospective) Startup Entrepreneurs, Low Credit, Low Income, and Management Crisis Cases

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[Asia Economy Yeongnam Reporting Headquarters Reporter Park Saeyan] Gyeongsangnam-do announced on the 25th that it will implement the '2021 Small Business Hope Dream Package Project,' a customized support program for small business owners according to their growth stages.

This year, the number of projects has been increased from 700 locations last year to 800 locations, and the credit rating range for low-credit individuals has been expanded from the previous 7-10 grades to 5-10 grades.

Considering the employment cliff and the business deterioration caused by the novel coronavirus infection (COVID-19), prospective entrepreneurs are included in the support targets.

The '2021 Small Business Hope Dream Package Project' is conducted in a total of three stages.

The first stage involves professional consulting to diagnose the problems of the applying companies and then provide stage-by-stage customized courses.

The second stage (Track 1) 'Management Close Dream Package' offers technology, management know-how, and management environment improvement to prospective entrepreneurs and those who started businesses within one year, low-credit and low-income small business owners, and small business owners with more than five years of business experience.

The second stage (Track 2) 'Restart Dream Package' provides legal and financial management support to small business owners affected by COVID-19, those planning to close their businesses or recently closed (within the last year), and small business owners affected by financial crises.

The third stage is a post-management process through feedback, conducted three months after the project ends, which enhances the self-sustainability of small business owners through continuous management such as improvement measures and environmental inspections.

In particular, prospective entrepreneurs receive pre-guarantee linkage to reduce economic burdens.

Existing and restarting small business owners receive customized consulting for management stabilization and support funds for environmental improvement up to 3 million KRW.

Small business owners planning to close their businesses due to prolonged COVID-19 damage receive consulting on difficulties arising during the closure process.

Additionally, restoration costs and restart support funds of up to 2 million KRW and 500,000 KRW respectively are provided.

Applications for the project will be accepted from the 26th through the Gyeongnam Credit Guarantee Foundation website.

For more details, inquiries can be made through the websites of Gyeongsangnam-do, Gyeongnam Credit Guarantee Foundation, or the Hope Dream Team of the Gyeongnam Credit Guarantee Foundation.

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