Gwangju Seo-gu Conducts Survey on Small Business Owners and Self-Employed Workers' Conditions

[Asia Economy Honam Reporting Headquarters Reporter Shin Dong-ho] Seo-gu, Gwangju Metropolitan City (Mayor Kim Yi-gang) conducted a survey targeting small business owners, revealing that financial support and specialized business strategy training are urgently needed to overcome the COVID-19 crisis.

On the 5th, Seo-gu announced that in October it commissioned Korea Information Research Co., Ltd., a public opinion research firm, to conduct a survey of 890 small business owners and self-employed individuals in the district regarding the impact of COVID-19 on business operations and management difficulties.

According to the results, 89.2% of respondents reported a decrease in sales after COVID-19.

In particular, businesses with fewer than five employees in the food service, retail, and service industries experienced significant drops in sales.

Respondents also reported difficulties with operating funds, loan repayments, labor costs, and rent alongside the decline in sales.

In this context, Seo-gu small business owners most frequently selected "financial support and loan interest rate reduction" (57.3%) as the support measures they want from the government and local authorities. Many also desired tax reductions and rent support (22.7%), employment and labor cost support (8.5%), and business facility renovations (3.9%).

Furthermore, 81% of respondents said they would "participate" if there were programs providing professional sales techniques to improve sales.

The support projects currently promoted by Seo-gu Office showed high interest in the following order: special guarantee for management fund loan support, revitalization of alleyway commercial districts, small-scale facility improvements, online sales channel support, and business SNS promotion support.

A Seo-gu official stated, "The results of this survey will be used as basic data for establishing future support plans for small business owners," adding, "We will create Seo-gu as an alley-centered economic city by fulfilling the demands and needs from the field."

Asia Economy Honam Reporting Headquarters Reporter Shin Dong-ho baekok@asiae.co.kr