Gyeonggi-do selected 199 promising small and medium enterprises of 2016 and provided 33 kinds of incentives to them.
Governor Nam Kyung-pil granted certificates to representative of companies selected as ‘2016 Gyeonggi-do promising small and medium enterprises’ at Gyeonggi Small & Medium Business Center Gwanggyo Hall at 3:30 in the afternoon on Oct. 4, 2016.
The ‘promising small and medium business certification system’ is aimed at promoting corporate growth through granting various incentives after discovering small and medium companies with good growth potential in the province. The system began in 1995 and 5,356 firms have received certifications as of 2015.
For the certification system, the province issued a notification in May and finally selected 199 businesses after examining the documents of 733 companies which made applications and conducting on-the-spot investigations. Among those firms, 149 companies received certifications for the first time and 50 firms received reauthorization.
Those selected companies will have the rights to use insignia certifying that they are promising small and medium companies in Gyeonggi-do, as well as signboards and certificates during the period of authentication (five years for companies selected for the first time and three years for companies selected again).
In the meantime, these companies can obtain various incentives that total 33 in kinds. When they apply for projects supported by the province, they can get additional points. When they use funds aimed at promoting small and medium firms, they can get a 0.3% interest rate cut.
In addition, the province is executing various policies, such as strengthening the capacities of promising firms and supporting customized packages, to promote leading small but strong enterprises armed with global competitiveness in Gyeonggi-do.
Governor Nam said in a bid to encourage such companies, “Growth of small and medium companies is an essential condition for reviving the ailing national economy”. Nam added that he would provide support so that “Certificates of promising small and medium businesses granted by Gyeonggi-do” could play the role of a ‘Confidence Hi-pass.’
Nam asked the province and smaller companies to cooperate to become wheels leading regional economy.