SMEs Ministry to Proactively Detect Risks and Send 'Crisis Notification Talk' to Small Business Owners

Expected to Send 100,000 to 200,000 Messages Annually

The Ministry of SMEs and Startups announced on March 31 that it will send out the “Crisis Notification Talk” messages for small business owners and implement a one-stop comprehensive support program to proactively manage business crises and help small business owners recover.

A notice about the Livelihood Recovery Consumption Coupons is posted at Cheongnyangni Market in Dongdaemun-gu, Seoul.

Since the COVID-19 pandemic, difficulties for small business owners have continued to intensify, with increases in business closures and delinquency rates. More owners are struggling because they are too focused on their livelihoods to accurately recognize crisis situations, or because support policies are scattered across various institutions, making access difficult.

In response, the Small Enterprise and Market Service, regional credit guarantee foundations, and 17 private banks will send out the first “Crisis Notification Talk” messages today.

Through these notifications, the Ministry of SMEs and Startups plans to proactively provide small business owners who are at risk—such as those with policy funds, guarantees, or bank loans—with tailored policies like business diagnostics and detailed information on how to receive specific consultations.

Small business owners who receive the Crisis Notification Talk can use the “My Store Business Diagnosis” feature on the Small Business 365 website to check their own business’s competitiveness, viability, and growth prospects. They can also receive one-stop counseling and support at one of 78 New Start Support Centers nationwide, where government support that is normally scattered across multiple agencies is consolidated.

Additionally, the New Start Support Centers will continue to offer support for those who have closed their businesses or are seeking a fresh start, and will connect with other organizations for debt adjustment (Credit Counseling & Recovery Service) and policy-backed microfinance. Moving forward, the Crisis Notification Talk messages will be sent monthly (by the Small Enterprise and Market Service and regional credit guarantee foundations) or quarterly (by private banks), with a total of 100,000 to 200,000 messages expected to be sent annually.

Choi Won-young, policy chief for small business owners, said, “With the launch of the Crisis Notification Talk, we plan to further strengthen the comprehensive support system by organically linking government department support programs,” adding, “We will do our best to ensure that small business owners do not miss out on support opportunities due to lack of information.”

This content was produced with the assistance of AI translation services.