소상공인 새출발 희망 프로젝트New Start Hope Project
Comprehensive measures for small business owners and self-employed persons
2024.7.3 People’s Livelihood Forum Realizing the era of the common people and middle class with a dynamic economy
● Management burden relief
3-piece set of financial support for small business owners
① Small business policy funds: Expansion of policy fund installment repayment support target and extension of period (up to 5 years)
② Local credit guarantee: Extension of maturity of guaranteed loans (establishment of 5 trillion won conversion guarantee)
③ Private finance: Expansion of low-interest refinancing loan support target (4.5% fixed interest rate)
Easing major cost burden
– Electricity bills: Expansion of support target (support of 200,000 won)
– Rent: Extension of tax deduction for good landlords
– Labor costs: Review of expansion of employment of foreigners, distribution of kiosks
– Management expenses: Strengthening transparency of management fee imposition
Sales support
– Expansion of accounts receivable factoring and priority supply to small business owners
– Where to use Onnuri gift certificates Expansion
– Additional issuance of 200,000 domestic tourism accommodation coupons
Strengthening the social safety net
– Strengthening tax benefits for the Yellow Umbrella Deduction: Annual income deduction limit increased from 5 million won to 6 million won
– Unification of employment insurance subscription and insurance premium support application window
● Support for growth promotion
Smart and digitalization
– Distribution of customer and sales management packages (smart devices + software)
– Establishment of digital traditional markets
– Private platform companies discover small business owners and provide close support on a 1:1 basis
Support for small business growth
– Establishment of a milestone-type policy fund for growing small business owners: Up to 700 million won
– Establishment of a special guarantee linked to future performance
Overseas expansion and expansion of sales channels
– Consulting and translation support for overseas store openings
– Close management of export support for promising consumer goods
– Export education and mentoring support
● Support for recovery
Debt adjustment
– Expansion of the new start fund 30 trillion won → 40 trillion won + α
– Debt adjustment period extended to the first half of this year, application deadline extended
– Linked support for successful recovery of closed businesses through employment and re-establishment
– Education program: Employment education or re-establishment business commercialization program
– Preferential reduction rate: Upon completion of education, principal reduction rate increased by 10%p
– Credit recovery linked support: Immediate cancellation of public information registration in case of successful employment and re-establishment after completion of education
Employment and re-establishment support
– Small business owner new start hope project:
– Small business owner specialized employment program: Hope Recon package, Mindset pre-education 600,000 won one-time allowance payment → National employment support system, in-depth education 500,000 to 1.1 million won monthly allowance payment
– High-interest total promotion subsidy: 300,000 to 600,000 won per month for 1 year to employers
– Re-establishment program: (Management system) 1:1 matching with PM dedicated to re-establishment, (education) [Basic] Startup preparation and fostering management capabilities → [Advanced] Industry/specialized technology expert education, (Industry) Industry conversion, growth industry-focused support, (Commercialization funds) Up to 20 million won (up to 7 months)
Expansion of store demolition cost support: Current maximum 2.5 million → Revision to maximum 400,000 won, ’25~
Small business owners who laugh together, economic policy direction for the second half of 2024
The government will provide prompt and thick support to improve the management conditions of small business owners, while continuing to actively respond to structural factors.
