MAIN BIZ to support SMEs with innovative management

2024.04.02 10:33:01 | 2024.04.02 10:37:48

Kim Myung-jin. [Photo by Lee Chung-woo]이미지 확대

Kim Myung-jin. [Photo by Lee Chung-woo]

The chairman of MAIN BIZ, an association of small and medium-sized enterprises that have achieved innovative results in management, outlined ambitious plans to foster communication-driven leadership and service-oriented leadership. The organization aims to activate inter-company networks and establish a premier platform for innovation that benefit member SMEs, Kim Myung-jin said in a recent interview with the Maeil Business Newspaper.

“We want to establish a platform for promoting innovative management SMEs and lay the foundation for mutual growth, including business matching support. MAIN BIZ will also play a leading role in improving regulations and resolving obstacles that hinder the growth of innovative SMEs.”

MAIN BIZ supports the discovery and cultivation of innovative management SMEs. The organization grants the coveted “Certification for Innovative Management SMEs” to companies that demonstrate competitiveness or exhibit future growth potential via management innovation through initiatives such as marketing, human resources, organizational innovation, and business model transformation. The 0.3 percent of all SMEs, or about 23,000 out of 7.72 million, holding this certification, contribute significantly to the Korean economy, accounting for 15.8 percent, or 340.7 trillion won ($251.4 billion) of the total GDP and employing 860,000 individuals.

Kim, who assumed office as the organization’s seventh president in February 2024, emphasizes the need to build a regulatory and business obstacle platform to strengthen the management innovation capabilities of MAIN BIZ companies.

He envisions a regulatory and obstacle center to identify and propose solutions to legal and administrative challenges hindering SME growth. “By actively engaging with the National Assembly and relevant agencies, we can address the management hurdles that SMEs and startups face.”

Balancing support between technology innovation-oriented SMEs (INNO BIZ) and management innovation-oriented SMEs (MAIN BIZ) is another priority for Kim, who highlights the vulnerability of the legal framework for management innovation in the digital economy era. Notably, while venture companies and INNO BIZ entities receive tax benefits during mergers and acquisitions (M&A), MAIN BIZ-certified companies are excluded from this support.

To further support innovation-oriented SMEs, MAIN BIZ advocates for the introduction of a scale-up financial assistance system. Kim proposes extending the debt guarantee period for long-term guaranteed companies that exhibit innovation and applying exceptions to repayment targets. Creating a separate account within credit and technology guarantee funds specifically for “SME Scale-Up Guarantee” is also part of his comprehensive strategy.

MAIN BIZ plans to collaborate with organizations possessing overseas networking capabilities, such as KOTRA and the World Federation of Overseas Korean Traders Associations, as it pursues global expansion. These partnerships will facilitate both online and offline business consultations, fostering international growth opportunities for innovative SMEs, according to Kim.

By Yang Yeon-ho and Minu Kim

[ⓒ Pulse by Maeil Business Newspaper &, All rights reserved]