How to apply for Youth Entrepreneurship Support Fund Reduce burden with low interest rates
When people become adults, they naturally start to engage in economic activities. Before adults who could not engage in economic activities, if they lived with the support of their parents, when they reach the age where they can engage in economic activities on their own, they are engaged in various types of occupations to maintain their current lives and create profits to prepare for the future. It’s possible.
They usually start working part-time and get a job after graduating from college. However, not everyone succeeds in getting a job at a large company, and even if you get a job, there are cases where you quit right away because it doesn’t suit your personality.
In addition to employment, economic activities are also based on entrepreneurship. In particular, there are many innovative young entrepreneurs who have come to have economic value with sparkling ideas like these days, and put them out in the name of entrepreneurship.
Young entrepreneurs sometimes search for items for the purpose of starting a business from the beginning, but they also get ideas from many experiences and thoughts to start a business. However, no matter how good an idea you try to start a business, if you do not have start-up funds, you have no choice but to stop thinking.
The threshold for loans is high, and even if you take out a loan, the burden is bound to be added to the high interest rate. That is why there are many young entrepreneurs who start with youth entrepreneurship subsidies.
Youth Entrepreneurship Support Fund is to provide financial support to young people who are preparing to start a business by setting certain conditions and standards so that they can spread their ideas to those who fall under them. The youth entrepreneurship subsidy system is a loan program run by a government agency, and it is conducted at a low interest rate of about 2% per year, so it would be a very helpful support system for young entrepreneurs if they could receive it in the era of high interest rates like these days.
If so, let’s see how to apply for the Youth Entrepreneurship Grant. The Youth Entrepreneurship Support Fund is literally aimed at young people, so there is an age limit. Age is limited to 39 years of age, and there are no restrictions based on academic background, major, or gender.
If you don’t fall under the age limit, you should check how long you started your current business. Young people who are preparing to start a business can of course apply, but among young people who have already started a business, they cannot apply after 3 years of starting a business. If there are no problems up to the above conditions, you can proceed with the application.
You can apply for the Youth Entrepreneurship Support Fund on the website of the Small and Medium Business Corporation. After accessing this homepage and clicking Apply for Policy Funds, you must first self-diagnose before proceeding with the application for review.
self diagnosis
Self-diagnosis is a necessary part because it is a necessary confirmation process for participation, and if you do not proceed with this part, you cannot move on to the next step. At this time, there are various written materials and attached materials that the corporation needs when applying for support funds, so you need to check and prepare them. If it is difficult to check, you can check them through consultation.
If you have completed the self-diagnosis, you will receive a preliminary consultation and then proceed with the online application. Entrepreneurship education and mentoring will be conducted when online application is processed. During the screening process, the person in charge of the screening will also conduct a competency evaluation through on-site visits.
You may think it cumbersome, but it is a benefit that must be given to people who really need it with funds used for government subsidies and that are suitable for the purpose, so we have no choice but to proceed with pickiness. After going through the application process for the Youth Entrepreneurship Support Fund in order and completing the on-site screening, there is an announcement of the results of selection.
Once selected, the next loan process begins, and additional documents and loan approvals required by the Small and Medium Business Corporation are processed in turn. The Youth Entrepreneurship Support Fund can be applied for the purpose of securing funds necessary for start-up, or for equipment support or operating funds for companies that have been in operation for less than 3 years.
Start-up Support Loan Limit
There are also limits on start-up support loans. Up to KRW 100 million for prospective entrepreneurs and up to KRW 200 million for manufacturing industries are available, so it will be of great help as business funds to prospective entrepreneurs as well as all business owners in the process of starting a business. Find out how to apply for the Youth Entrepreneurship Grant.
If you are a prospective entrepreneur to commercialize a sparkling idea, as well as a young entrepreneur who has just started a business and needs safe operating funds, you can start a business or operate your business stably by making good use of the Youth Startup Support Fund system conducted by the Small and Medium Business Corporation. will.
[Source] How to apply for Youth Entrepreneurship Support Fund Reducing burden with low interest rate|Author Biz Business Success Support Foundation