The Ministry of SMEs and Startups (Minister Park Young-seon, hereinafter the Ministry of SMEs) and the National Statistical Office (Director Ryu Geun-gwan) conducted a “2019 Small Businesses Survey” conducted in collaboration with ministries to identify the business environment of small business owners and use them as basic data for establishing customized policies. The provisional results were jointly announced on Monday, December 28.
Business difficulties that small business owners responded with multiple (2) were in the order of declining business district (45.1%), intensifying competition (42.2%), raw material costs (26.6%), and rental fees (18.3%).
* (Main increase/decrease) Rent (2.1%↑), debt repayment (2.0%↑), raw material cost (3.6%↓), intensifying competition (1.1%↓)
The number of businesses was 2.77 million, an increase of 1.1% (30,000) compared to the previous year, followed by wholesale and retail sales of 32.1% (89 million), lodging and restaurants 23.8% (660,000), and manufacturing 13.0% (360,000).
The number of employees was 6.44 million, an increase of 1.9% (120,000) compared to the previous year, followed by wholesale and retail business (1.87 million), accommodation and restaurant business (24.1%) (1,550,000), and manufacturing (18.3%) (1,180,000).
As for the type, 90% of individual business owners and 10% of corporate businesses were found, and the most common age group was 50s (34.2%), 40s (26.7%), 60s or older (23.8%), 30s (12.8%) , 20s or younger (2.5%).
The average preparation period per business entity was 10.2 months (0.7 months↑), and the startup cost was 120 million won (1 million won↓), of which the out-of-pocket cost was 75 million won (73.5%).
In addition, annual sales per business remained at the level of the previous year, 235 million won (1.958 million won per month), operating profit of 33 million won (3% ↓, 2.75 million won per month), and the debt holding ratio of business entities 51.9% (3.5% ↑), The amount of debt was 171 million won (5.2%↓).
When the results of the decision reflecting the results of the nationwide business survey in 2019 are released in February of next year, the Ministry of SMEs will conduct an in-depth analysis and use it to strengthen support systems for each life cycle of small business owners, such as start-up→growth→resume, and establish customized policies.
In addition, in the ’20 year survey of small business owners conducted next year, the impact of this year’s Corona 19 incident and the accelerating digitization and non-face-to-online trends will be actively reflected when designing survey items.
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