Ministry of SMEs and Startups to Hold Small Business Management Crisis Consulting Sessions in 14 Regions Nationwide

Starting in Daejeon and Sejong on August 28 Sessions to Be Held Sequentially Through the End of October

The Ministry of SMEs and Startups announced on the 26th that it will hold the ‘Comprehensive Consulting Sessions for Overcoming Small Business Crisis’ in 14 regions across the country, sequentially from August 28 through the end of October.

This consulting program is designed to support small business owners who are struggling with high interest rates and sluggish domestic demand. Experts from various fields will visit the regions directly and help resolve complex management challenges together, such as funding, debt, business closure, and business recovery.

Exterior view of the Ministry of SMEs and Startups. Ministry of SMEs and Startups

During the consultation sessions, experts will offer one-on-one customized consultations in diverse areas, including policy funds (loans), credit guarantees, debt adjustment, business closure support, re-employment and business restart assistance, as well as labor and marketing consulting.

The first consulting session will be held on the afternoon of August 28 at Lycon Town in Jung District, Daejeon. Small business owners in Daejeon and Sejong can participate on-site without any additional fees.

Subsequent sessions will continue until the end of October in major cities and provinces across the nation, including Seoul, Gyeonggi, Incheon, Gangwon, Chungnam, Chungbuk, Jeonbuk, Gwangju & Jeonnam, Busan, Ulsan, Gyeongnam, Daegu, Gyeongbuk, and Jeju. Detailed schedules and venues for each region will be posted on the Small Enterprise and Market Service website.

Park Sangyong, Director of Small Business Management Stability Support at the Ministry of SMEs and Startups, said, “We have strengthened our field support so that small business owners don't miss the golden opportunity for support or fail to benefit simply because they are unaware of government programs.” He added, “We hope this consultation program will help small business owners overcome management crises and facilitate their business recovery.”

According to the ministry, the number of business closures last year was 976,000, down by 32,000 from the previous year. However, among the six major sectors in which small business owners are mainly engaged, the closure rate stood at 11.08%, exceeding the overall average of 8.64%. It was also found that 68.5% of small business owners who closed their businesses did so with an average debt of 85.31 million won.

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