If You Have Store Management Concerns, Apply for Consulting

Ministry of SMEs and Startups Recruiting Participants for 'Small Business Capacity Building'
Divided into Business Stabilization and Entrepreneurial Development Programs

The Ministry of SMEs and Startups announced on the 24th that it will begin recruiting small business owners and prospective entrepreneurs to participate in the ‘2024 Small Business Capacity Building (Consulting)’ program starting from the 25th.

On the 12th, Garak Agricultural Market, Songpa-gu, Seoul. Photo by Jo Yongjun jun21@

This year’s program is categorized into ‘Management Stability Consulting,’ ‘Entrepreneurial Growth Consulting,’ and ‘Free Legal Support.’

Management Stability Consulting involves experts in fields such as management, technology, and export visiting small business owners’ establishments up to four times to identify challenges and propose solutions. Any small business owner or prospective entrepreneur can apply. Simplified taxpayers, those with annual sales under 80 million KRW, and century-old stores are eligible for a 10% exemption on self-payment fees.

Newly introduced are ‘Senior Mentoring,’ which transfers the experience and know-how of successful senior entrepreneurs, and ‘Neighborhood Consulting,’ which addresses common issues faced by small business owner groups and communities. Additionally, ‘Post-Consulting Management’ is introduced to allow small business owners to consult with consultants on additional issues even after the consulting period ends.

Entrepreneurial Growth Consulting selects small business owners with high growth potential after Management Stability Consulting and provides up to two additional consulting sessions for business advancement. A management improvement voucher worth up to 3 million KRW for marketing and other needs is also provided. Those who received Management Stability Consulting last year and have creative business improvement ideas can apply. The Ministry of SMEs and Startups will select candidates based on the appropriateness of ideas and willingness to implement them.

Free Legal Support is a program that supports litigation costs for civil cases arising during small business owners’ business activities through the Korea Legal Aid Corporation. Eligible recipients are small business owners with a median income of 125% or less or annual sales of 200 million KRW or less in the past year.

Starting this year, a recommendation system will be applied where the operating institution first recommends about five consultants, and the small business owner selects one.

Minister Oh Young-joo of the Ministry of SMEs and Startups stated, “It is difficult for small business owners, who lack manpower and capital, to overcome complex and diverse management difficulties on their own. Through this program, we will actively support not only prepared startups and management stability but also growth into lycon.”

Applications for the consulting program can be made through the ‘Small Business 24’ website. Management Stability Consulting accepts applications until the budget is exhausted without a separate selection process, Entrepreneurial Growth Consulting accepts applications until 3 p.m. on the 11th of next month, and Free Legal Support requires visiting the nearest Korea Legal Aid Corporation branch to apply.

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