Ministry of SMEs and Startups Launches 'Hope Return Package' Program
[Asia Economy Reporter Kim Bo-kyung] # Mr. Lee, who was seriously considering closing his snack bar due to financial difficulties, participated in the Ministry of SMEs and Startups' 'Hope Return Package Management Improvement Support.' He developed a menu suited to the commercial area and remodeled the store. Thanks to this, Mr. Lee overcame the management crisis by achieving sales of 20 million won in just four months.
# Mr. Woo, who was looking for ways to close his franchise chicken restaurant after seven years, learned about the 'Hope Return Package One-Stop Closure Support.' Mr. Woo received support for store demolition costs and legal consultation, making the complicated franchise contract termination process easier.
These cases are real stories of small business owners in crisis or closure who participated in the Hope Return Package program and succeeded in overcoming crises and restarting their businesses.
The Ministry of SMEs and Startups announced on the 29th that it will invest 146.4 billion won this year in the Hope Return Package project to help small business owners overcome crises and support those who have closed their businesses to restart. This is an increase of more than 26% compared to last year's budget (115.9 billion won).
The Hope Return Package project consists of four programs according to stages such as management crisis, closure, and restart: ▲Management Improvement (37.4 billion won) ▲One-Stop Closure Support (63 billion won) ▲Reemployment Education and Job Change Encouragement Allowance (20.4 billion won) ▲Restartup Education and Commercialization Funds (25.6 billion won).
Minister Lee Young of the Ministry of SMEs and Startups said, "The number of small business owners facing difficulties due to COVID-19 and the triple high (high inflation, high interest rates, high exchange rates) complex crisis is increasing," adding, "We will do our best to strengthen social safety net support for small business owners, such as employment insurance premium support, and to support the successful restart of small business owners who have closed their businesses."
Small business owners who wish to participate can apply online through the Hope Return Package website. The Ministry of SMEs and Startups is currently recruiting lead organizations to carry out the Hope Return Package project on the ground and plans to make the final selection by the end of next month after evaluation.
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