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Tailored Support for Small Businesses: A Complete Guide to Demolition Subsidy Applications

  • Written Language: Korean
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  • Economy

Created: 2024-11-17

Created: 2024-11-17 02:41

Considering closing your business? Or have you already closed? To ease the financial burden of closure, the government provides demolition subsidies for small business owners. This program can provide up to 2.5 million won. Curious about how to apply? Let's take a closer look at the demolition subsidy for small business owners and guide you through the application process.

What is the Demolition Subsidy for Small Business Owners?

The demolition subsidy for small business owners is a government support program that helps alleviate the financial burden by supporting the cost of demolishing stores for small business owners who are closing down. Operated by the Small and Medium Business Corporation, it provides support of up to 2.5 million won.

Who is eligible for support?

  • Small business owners according to the Small and Medium Business Act
  • Small business owners who have closed down or are planning to close down as of the date of announcement
  • More than 60 days have passed since the start of the business
  • Business operated under a lease agreement

When are applicants excluded from support?

  • Self-owned building or rent-free space
  • Already received support
  • Received benefits from similar programs
  • Relocation or business restart
  • Excluded industries such as real estate rental business

What is the support process?

1. Online Application: Apply through the Small Business Administration website
2. Document Submission: Submit lease agreement, building register, etc.
3. On-site Verification: Staff will visit the site to verify eligibility
4. Demolition and Settlement: Submit settlement documents after demolition
5. Subsidy Payment: Subsidy will be transferred to the account after review

The application process is easy!

How to Apply for Small Business Demolition Subsidy

How to Apply for Small Business Demolition Subsidy

1. Access the Small Business Administration website
2. Sign up and log in
3. Select the one-stop business closure support menu
4. Fill out and submit the application form
5. Upload necessary documents

Important points to remember!

  • Subsidies are only paid when demolition is carried out through a contractor.
  • Prepare the necessary documents in advance when applying.
  • Carefully check the application procedure and proceed.

Frequently Asked Questions (FAQ)

  • When can I receive the subsidy? It will be paid into your account upon final approval after review.
  • What items are not eligible for the subsidy? VAT, etc., are excluded from the support.
  • What happens if I give up midway? The subsidy may be recovered.

Don't struggle alone with the difficulties of closing your business!

The government provides support so that you can reduce the financial burden and make a fresh start through the Small Business Demolition Subsidy. For detailed information, please refer to the Small and Medium Business Corporation website or receive a consultation.

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