"How Extensive Is the Damage?"... Criteria for Calculating Support Funds for Small Business Owners to Be Announced

Eighth Roundtable on Strengthening Safety Nets for Small Business Owners

Measures are being pursued to establish criteria for calculating support funds by category, such as buildings and mechanical equipment, to assist small business owners affected by disasters.

Merchants are carrying out flood recovery work at Hampyeongcheonji Traditional Market in Hampyeong County, Jeollanam-do.

On September 19, the Ministry of SMEs and Startups announced that it held its eighth roundtable discussion on "Small Business Recovery and Safety Net Enhancement" at Raicon Town in Daejeon, where these issues were discussed.

This roundtable was organized to gather input from small business owners and experts following the revision of the Disaster Safety Act, which has made disaster support for small businesses more concrete. The meeting was attended by more than 10 participants, including the Director of Small Business Policy, small business owners, and experts.

The main topics included discussions on criteria and unit price systems for calculating support funds by category-such as buildings, mechanical equipment, and business stabilization-to provide practical recovery support for affected small business owners. Additionally, participants discussed the introduction of a damage classification table for objective damage assessment, as well as administrative procedures and legislative amendments to clearly delineate work responsibilities between the central government and local governments.

Furthermore, opinions were raised that, in addition to government support, efforts should be made to strengthen small business owners' own disaster preparedness capabilities through publicity and education, and to promote enrollment in wind and flood insurance and traditional market fire mutual aid plans.

A Ministry of SMEs and Startups official stated, "We will finalize the support measures after interdepartmental consultations and collecting stakeholder opinions before the enforcement date of the Disaster Safety Act on November 28," adding, "We plan to establish a comprehensive and practical support system so that small business owners and self-employed individuals can return to their daily lives more quickly in the event of future disasters or calamities."

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