Back To Top

SMBA helps start-ups through support centers

The Small and Medium Business Administration grants funding and training for new start-ups through its venture support centers placed throughout the nation, according to the agency.

Ventures are increasingly being considered as a viable solution to early retirement and unemployment issues, but are not easy to pursue without proper capital, knowledge and know-how, said SMBA officials.

Even after a venture is established, there remains the greater challenge of sustaining its growth and development.

The SMBA’s venture support centers are a measure by the government to aid these start-ups, instilling a sense of self-reliance and independence.

The centers supply entrepreneurs ― who have either just established a firm or have come up with innovative ideas ― with office space, information and the skills for managing a company in order to sustain stable businesses for long periods of time, the administration explained.

The SMBA’s ultimate goal is to boost the country’s overall number of ventures and, by doing so, expand the labor market with quality jobs.

Most firms that currently seek the support centers are investing in the areas of IT and advanced technology and may receive assistance in capital, technology and management, among other needs, depending on the centers’ management policies.

Ventures that join can also enjoy significantly lower rates when leasing office space and thus direct a great deal of saved capital toward the financing of other business areas, said the administration.

Furthermore, the centers provide informative seminars and lectures regarding entrepreneurship, which can also prove to be useful networking opportunities.

Currently there are 275 SMBA-run venture support centers across the nation, housing a total of 5,123 firms and employing 17,276 people, the administration said.

By Kim Joo-hyun (