Helped by consumption coupons and other government measures to boost spending, small business owners' business sentiment index for October hit a record high for the past five years.
The Ministry of SMEs and Startups (MSS) said on the 12th that the October Small Business Owners' Sentiment Business Survey Index (BSI) stood at 79.1. It is the highest figure from 2021 through October 2025. Compared with October last year (69.1), it rose 10 points (p), and it was up 2.5p from the previous month.
The small business owners' sentiment BSI quantifies the economic conditions that small business owners actually feel in the month. It is surveyed and released every month to identify trends and outlooks for small businesses and traditional markets.
Looking at the sentiment BSI trend over the past year, from late 2024 to early 2025, the index declined due to weakened consumer sentiment, seasonal factors, and holiday cost burdens.
It partially recovered in March on seasonal peak factors, but after pausing somewhat in April due to the announcement of U.S. tariff impositions, it trended upward after the launch of the new government in June. In particular, the government's spending-boosting programs in the second half, such as the people's livelihood recovery consumption coupons and the win-win payback, are analyzed to have had a positive impact.
By sector, in October the small business owners' sentiment BSI for sports and entertainment-related services rose 12.5p from the previous month, personal services rose 9.5p, and repair services rose 7.2p. By region, Ulsan rose 15.2p, Sejong 11.4p, and North Jeolla 8.6p.
The "outlook BSI," which reflects small business owners' expectations for the next month's economy, was 90.7 for November, up 3.9p from the previous month. It is the highest figure in 2025.
Lee Dae-geon, director general for small business policy at the Ministry of SMEs and Startups (MSS), said, "It appears that the various spending-boosting policies pursued in the second half have shown results in improving the sentiment BSI," and added, "As expectations for a year-end economic boom are reflected in the outlook BSI, we will steadily push ahead with scheduled policies, including second-half relay consumption promotion events, without a hitch."