On June 7, the Small Enterprise and Market Service announced that the government will conduct a comprehensive survey of over 2,300 designated century-old small businesses across the country. The aim is to move away from a one-size-fits-all support model and establish a tailored support system based on sales, employment, business operations, and succession status.
The survey will cover all 2,326 businesses as of February, including 1,407 century-old stores and 919 century-old small enterprises. Survey teams will conduct both phone and in-person interviews.
Key survey items include: basic business status, actual size in terms of sales and number of employees, online and offline sales methods and revenue proportions, and the status of business succession and future plans.
Particularly, the survey aims to address the issue of business succession, which has been a significant factor in the closure of many businesses, particularly due to the reluctance of younger generations to take over family businesses. The data collected will help tackle the excessive tax burdens that arise during the inheritance of small businesses.
Critics have pointed out that government tax support for business succession has primarily focused on corporate small and medium-sized enterprises, leaving many small businesses without institutional benefits. The industry views this comprehensive survey as a crucial step to alleviate concerns stemming from budget cuts and to establish a foundation for the survival of these long-standing businesses.
The budget for supporting century-old small businesses reached 7.695 billion won in 2022 but has since plummeted to around 400 million won last year. This year, the budget has been increased by approximately 1 billion won to 1.472 billion won, but industry insiders believe it remains insufficient to fully support all 2,300 designated businesses.
To shed the negative perception of merely providing plaques and neglecting support, there are calls for a targeted approach to assist struggling small businesses alongside those that have already established self-sustainability. As of the end of 2025, a total of 41 century-old small businesses (23 century-old stores and 18 century-old small enterprises) had their designations revoked due to management deterioration or failure to meet requirements, highlighting the urgent need for a systematic post-management system.
A representative from the Small Enterprise and Market Service stated, "Through this comprehensive survey, we will provide tailored support to each business based on their specific needs, even in the face of reduced budgets."
* This article has been translated by AI.
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