GNB CONTENTS
IB0287_cover.jpg

Developing Customized Training Programs for Scaling Up Self-Employed Businesses

Date
2024.08.27
Although self-employed individuals make up about one-fifth of the workforce in Korea, many face challenges such as inadequate incomes, financial difficulties, and sudden environmental changes like the COVID-19 pandemic, which often lead to business closures. Therefore, vocational skills development aimed at strengthening competitiveness and enabling business growth (scale-up) is essential. An analysis of the survival rates of self-employed businesses over 10 years reveals disappointing  numbers, with survival rates of 27.44% for general businesses and 18.75% for tax-exempt businesses, with regional disparities observed. Self-employed individuals expressed a need for training in tax management and promotion/marketing. However, since training is closely linked to their livelihood, incentives are required to encourage participation. To fully unlock the potential of self-employed individuals and contribute to sustainable growth in the economy, detailed vocational training systems and policy designs are needed. 

POPUP