Small Business Association logo. /Courtesy of Small Business Association

The Small Business Association held a press conference on the 29th at the Seoul Yeouido Conference Hall to announce the 'Policy Tasks for Small Businesses in the 21st Presidential Election.'

On this day, the association announced a total of more than 110 policy tasks, including 25 key tasks centered around the 'five major agendas': overcoming crises, strengthening support and infrastructure, improving laws and systems, establishing a social safety net, and building a foundation for innovative growth.

The association appointed Professor Lee Jeong-hee of Chung-Ang University as the Chairperson of the Policy Advisory Committee, creating policy tasks after several months of discussions with committee professors and experts. A preference survey was conducted on the discussed policy tasks, targeting 1,050 general small business owners nationwide.

First, small business owners identified 'emergency support fund for small businesses (62.2%)' as the most necessary measure for overcoming crises.

Following this, responses indicated that 'strengthening financial support for small businesses' such as debt adjustment and Hope Savings account was necessary at 45.5%, and 'relief of public utility burdens for small businesses' including the establishment of new electricity contracts and water bill reductions was 38.8%.

For strengthening support and infrastructure for small businesses, 'establishing a policy financial institution for small businesses' was listed as the most needed policy task at 67.2%.

'Expanding departments responsible for small businesses,' such as the Presidential Office's Small Business Committee and a dedicated Vice Minister for small businesses, ranked second at 65.6%, followed by 'improving support projects for small businesses' such as easing self-financing and export and remodeling support at 53%.

Among the policy tasks for improving laws and systems related to small businesses, 'relieving the tax burden on small businesses' was prioritized at 68.3%. Following that, 'improving the minimum wage system for small businesses (abolition of paid weekly leave)' was cited at 59.6%, and 'amending the Commercial Building Lease Protection Act (management fees)' ranked at 33.4%.

To establish a social safety net for small businesses, 'creating a welfare foundation for small businesses (including the Social Welfare Act for Small Businesses)' was at 50.3%, 'establishing systems for workforce stabilization (such as enacting the Support Act for Small Business Personnel)' was at 50.2%, and 'a three-type insurance package for small businesses' and 'expanding support for small business owners in re-establishment after closure' were both reported at 46.3%.

Song Chi-young, chairperson of the association, noted, 'This election should prioritize saving small businesses,' expressing hope that the 25 core tasks announced today, among other policy tasks, will become the national agenda of the next government and must be realized.

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