Find out how to apply for the Youth Entrepreneurship Support Fund, qualifications, and who to apply for
Today, I would like to explain about the application for youth entrepreneurship support, qualifications, and how to apply. Since last year’s corona, the government has gone through various rescue processes so that young people can stand up without burden.
Through him, a system called Youth Entrepreneurship Support Fund was created, and the government decided to provide burden financial support so that many young people could try various businesses.
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It is a time when young people do not have the economic conditions to start a big business, and they have to steadily develop their career, specifications, credit, property, etc.
Of course, it’s true that you can’t spread the business side at will. That’s why I think it will be very helpful to find out if you are eligible for this youth start-up support fund application and then apply if you are applicable.
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Eligibility for Youth Entrepreneurship Support Fund
Youth – subsidy – application – target – method
Eligibility for Youth Entrepreneurship Support Fund
You can apply for the Youth Entrepreneurship Fund up to the age of 39, and you must not be a pre-entrepreneur or start a business more than 3 years ago.
Representatives under the age of 39
Business started within 3 years
Small and medium-sized businesses or young people preparing to start a business (self-employed, pre-founders, entrepreneurs who have not started their business for 3 years can apply)
Special fields: medium-sized companies and small businesses, etc.
Targets excluded and pursued from youth entrepreneurship support funds
A company that is on hiatus
companies in arrears of tax
Companies for which information such as overdue, subrogation/substitute payment, bankruptcy, related persons, financial disorder, rehabilitation/bankruptcy, etc. is registered in accordance with the General Credit Information Management Rules of the Korea Credit Information Service
Companies operating in industries subject to exclusion from small and medium-sized business policy loans
Operating standards for businesses excluded
Industries that are inappropriate for public sentiment support, such as the gambling industry (gambling, luxury, and pleasure, health hazards, real estate speculation, etc.)
Businesses directly or indirectly operated and supported by the government and other public sectors (transportation such as railroads, operation of roads and related facilities, etc.)
Industries with high income and relatively easy financing (professional services such as legal, tax, and health, finance and insurance, etc.)
In addition, there are more exclusions. Since it is more important not to be excluded than to confirm the application target, you can check the Small and Medium Venture Business Promotion Corporation for more information.
Learn more about exclusions
How to apply for youth subsidy
How to Apply for Youth Grants
application process
1. Youth Application/Reception Process The loan application process proceeds in the order of ‘online application reservation → pre-consultation → online application’, and companies wishing to receive funding for the current month must apply by the end of the previous month
* However, the online application acceptance month can be adjusted depending on the reception status of the regional headquarters (branch)
* Disaster SMEs located in special disaster areas can skip the online application reservation step
2. After making a reservation through the online application reservation website, conduct online ‘self-diagnosis’ such as eligibility for application and adequacy of application funds
* Companies that submit false ‘self-diagnosis’ results are restricted from applying for policy funds for one year from the date of discovery
3. Pre-consultation If you are eligible for application as a result of self-diagnosis, consultation is conducted with the relevant regional headquarters (branch)
* Principle of non-face-to-face consultation for operating funds and face-to-face consultation for facility funds
4. Online Application After completing the preliminary consultation, companies that are given an opportunity to apply must submit a loan application through the SBC website by the due date.
* Monthly pre-consultation If a company exceeds the range of available manpower for each regional headquarters (branch) department, policy priorities (innovative growth, job creation, performance sharing, export, regional performance creation, etc.) are evaluated for the company applying for working capital. It is possible to determine whether or not to grant an application opportunity by conducting
Go to Apply for Youth Support Fund Reservation
Documents to be submitted and materials to be prepared
Documents for Submission of Youth Support Fund
Pre-consultation → ② Loan application → ③ Submission of documents for each stage of fact-finding investigation
* In case of face-to-face consultation, submit in person.
Fill out application form for start-up support (digital) – Fill out loan application form on SME website (digital method) → fill out → upload business plan
Documents to be submitted during fact-finding survey – (Field survey) Directly submitted by the staff in charge of medium vacuum when visiting the site – (Non-face-to-face survey)
* If you have not submitted the ‘copy of the representative’s ID card, provision of corporate/individual (credit) information and consent to use customer information’, which must be submitted at the consultation stage, you can submit it at the fact-finding stage.
Learn more about submissions
Youth start-up support fund
What is Youth Entrepreneurship Support?
Youth Entrepreneurship Funding A youth entrepreneurship support program that gives young people with business ideas the opportunity to start a business and the opportunity to realize their dream as a full-fledged entrepreneur through start-up funding, which is the biggest difficulty young people have in starting a business.
Young Entrepreneurship Fund Details Youth Only Entrepreneurship Fund System Due to the government’s issuance of a guarantee form, the format of receiving guarantee support from the first financial sector is low and the repayment period is long, so it is useful for young entrepreneurs. The application for youth entrepreneurship support is by issuing a guarantee by the government. It is a format that can receive guarantee support from the first financial sector on the market.
It’s probably young people. Looking at it, it is difficult to have real estate, cars, and property, and it is very difficult to receive support, but since you are too young to build credit, the government issues a guarantee, so you can get it now at a low interest rate from the first financial sector. It is also the same as the women’s start-up support fund.
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Today, I explained about the Youth Entrepreneurship Support Fund. I hope that a better society can be achieved by delivering it to those who have difficult economic conditions at the age of trying and trying, especially those who have a novel business idea but have not started it because they do not have the right funds.