@article{ART003172585},
author={Sung-Pil Bae and Sang-Ho Lim},
title={Considerations for Small Businesses to be More Competitive in the Marketplace},
journal={Industry Promotion Research},
issn={2466-1139},
year={2025},
volume={10},
number={1},
pages={51-58},
doi={10.21186/IPR.2025.10.1.051}
TY - JOUR
AU - Sung-Pil Bae
AU - Sang-Ho Lim
TI - Considerations for Small Businesses to be More Competitive in the Marketplace
JO - Industry Promotion Research
PY - 2025
VL - 10
IS - 1
PB - Industrial Promotion Institute
SP - 51
EP - 58
SN - 2466-1139
AB - Small businesses in Korea face challenges from declining consumption indices and rising consumer prices. Many struggle to adapt, leading to financial difficulties and rising unemployment. Many individuals rely on government support to start or sustain businesses. While entrepreneurship is growing due to baby boomer retirements, the unstable environment results in high failure rates.This study explores strategies to enhance the competitiveness of small businesses and micro-enterprises, focusing on resilience. It defines key concepts, analyzes government support, proposes strategies, and presents findings to serve as foundational data.Key findings include: first, reducing labor cost burdens is essential. Second, differential wage policies can prevent employment decline. Third, fostering sustainable growth potential is critical. This research offers valuable insights for strengthening market competitiveness.
KW - Small Business;Small business owner;Market competitiveness;Small and medium enterprise basic law;Simplified tax payer
DO - 10.21186/IPR.2025.10.1.051
ER -
Sung-Pil Bae and Sang-Ho Lim. (2025). Considerations for Small Businesses to be More Competitive in the Marketplace. Industry Promotion Research, 10(1), 51-58.
Sung-Pil Bae and Sang-Ho Lim. 2025, "Considerations for Small Businesses to be More Competitive in the Marketplace", Industry Promotion Research, vol.10, no.1 pp.51-58. Available from: doi:10.21186/IPR.2025.10.1.051
Sung-Pil Bae, Sang-Ho Lim "Considerations for Small Businesses to be More Competitive in the Marketplace" Industry Promotion Research 10.1 pp.51-58 (2025) : 51.
Sung-Pil Bae, Sang-Ho Lim. Considerations for Small Businesses to be More Competitive in the Marketplace. 2025; 10(1), 51-58. Available from: doi:10.21186/IPR.2025.10.1.051
Sung-Pil Bae and Sang-Ho Lim. "Considerations for Small Businesses to be More Competitive in the Marketplace" Industry Promotion Research 10, no.1 (2025) : 51-58.doi: 10.21186/IPR.2025.10.1.051
Sung-Pil Bae; Sang-Ho Lim. Considerations for Small Businesses to be More Competitive in the Marketplace. Industry Promotion Research, 10(1), 51-58. doi: 10.21186/IPR.2025.10.1.051
Sung-Pil Bae; Sang-Ho Lim. Considerations for Small Businesses to be More Competitive in the Marketplace. Industry Promotion Research. 2025; 10(1) 51-58. doi: 10.21186/IPR.2025.10.1.051
Sung-Pil Bae, Sang-Ho Lim. Considerations for Small Businesses to be More Competitive in the Marketplace. 2025; 10(1), 51-58. Available from: doi:10.21186/IPR.2025.10.1.051
Sung-Pil Bae and Sang-Ho Lim. "Considerations for Small Businesses to be More Competitive in the Marketplace" Industry Promotion Research 10, no.1 (2025) : 51-58.doi: 10.21186/IPR.2025.10.1.051
