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  • Seoul Issues a Manual to 600,000 Help Small Businesses

  • Economy & Investment News SMG 4606

    The number of small businesses in Seoul amounts to about 600,000. Most of them are vulnerable even to small crises.

    The SMG, jointly with the Korea Federation of Small and Medium Businesses (Kbiz), has made the Manual for Small Businesses Getting out of Crisis, with a focus on self-diagnosis of current management issues in association with rent, lease contract renewal, and tax-related matters.

    The manual was distributed online and in paper form on April 10 as the first its kind for small businesses ever distributed in Korea. A “small business” refers to a business with less than ten full-time employees (or one with less than five full-time employees engaging in mining, manufacturing, construction, or transportation).

    We have also distributed a webtoon recipe book based on the manual. It is an easy-to-understand story of how a person in his 40s who has opened a bistro after retirement as a salaried employee gets over business crises with the help of a management consultant.

    <The front cover of Manual for Small Businesses Getting out of Crisis>
    <The front cover of the webtoon recipe book Recipe for Small Businesses Getting out of Crisis>

    The manual is made up of five chapters: ① The Number of Small Businesses in Seoul, ② What Crisis Means for Small Businesses, ③ Basic Principles to Observe in Operation, ④ Use of Checklist: Cases of Coping with a Crisis, and ⑤ Small Business-Supporting Institutions and Policies.

    Chapter 3 (Basic Principles to Observe in Operation), for example, contains basic information on how to prevent management crises and how to cope with them when they arise. It advises businesses to re-do a location survey, assess the strengths and weaknesses of the store, and establish an action plan for stable sales using the SMG’s Analysis of Neighborhood Commercial Districts.

    Chapter 4 (Use of Checklist: Cases of Coping with a Crisis) provides advice on how to carry out self-diagnosis of ▲ sales management, ▲ employee management, ▲ operational management, ▲ fund supply, and ▲ regulations and management of tax-related matters, plus how to cope with a crisis situation based on the self-diagnosis.

    Chapter 5 (Small Business-Supporting Institutions and Policies) offers businesses information on how to use relevant institutions ready to provide assistance to them.

    The manual and webtoon are available at SMG-run libraries, the Small Business Management Support Center, and the Seoul Business Agency. You can also read their content at the SMG eBook Homepage and the SMG Homepage below:

    The manual (in Korean)    The recipe (in Korean)

    ☎ For inquiries, please call the mall Business Development Division at the SMG (02-2133-5540).