Ministry of SMEs Reports Significant Increase in Small Business Support Applications

Ministry of SMEs and Startups in Sejong [Photo by Yoo Dae-gil]

The Ministry of SMEs and Startups has reported a significant increase in applications for its "Small Business Policy Notification Service." This surge is attributed to enhanced customized policy guidance aimed at small business owners who face challenges in accessing information.

According to the ministry, a notification sent on March 20 to 213,000 women small business owners aged 20 to 40 regarding the Ministry of Employment and Labor's maternity benefits program led to a more than 1.3-fold increase in applications immediately following the notification. Notably, applications from sole proprietors, who often have limited time to search for information, increased by approximately 1.7 times.

Additionally, due to the lack of a dedicated small business database, the ministry conducted tailored outreach for five local government programs, including maternity support and fire insurance premium assistance. This outreach targeted 67,000 individuals based on criteria such as location, residency, industry, age, and gender.

Analysis of the results from these local government programs revealed that applications increased by 4 to 20 times compared to before the notifications were sent, demonstrating a greater promotional impact than that of central government programs. Among all applicants, approximately 31.1% were recipients of the notifications, indicating that the policy alerts significantly contributed to increased participation in these programs.

Building on this success, the ministry plans to continue providing easy and convenient access to information about support programs for small businesses in the second half of the year. Furthermore, it aims to strengthen collaboration with other ministries and local governments to continuously identify and expand the scope of programs promoted through notifications, while refining the criteria for selecting small business recipients to enhance the accuracy and effectiveness of policy guidance.

Han Seong-sook, Minister of SMEs and Startups, stated, "The effectiveness of the policy notification service as a promotional tool for small business support programs has been confirmed. We will expand the provision of customized information that accurately reflects the characteristics of different target groups and situations based on the data we have accumulated on small businesses."

* This article has been translated by AI.

JUNG YEON WOO