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KMID : 1001320070310010397
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Social Welfare Policy
2007 Volume.31 No. 1 p.397 ~ p.422
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An Exploratory Study on Survival of Micro-enterprise
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Chung Young-Soon
Song Yeon-Kyoung
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Abstract
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The purpose of this study was to explore measures to improve survival rates of micro-enterprises by evaluating all the enterprises supported by the Social Solidarity Bank. The study analyzed differences in the survival rates of micro-enterprises based on characteristics including ‘sex’, ‘economic situation’, ’forms(sole vs joint) of business’ and ‘types of business’, and examined how much these characteristics influenced survival rates of micro-enterprises by using a logistic regression analysis. This study found that compared to other studies, the survival rate was much higher for micro-enterprises, at 88.2%. The relationship between survival rates and the characteristics of micro-enterprise was statistically significant. The results showed a lower survival rate of enterprises start-ups in the case of female entrepreneurs, a bad economic situation, and a sole enterprise. while s survival rate of enterprise is higher in the case of male entrepreneurs, a joint business and a moderate economic situation. Also the relationship between the types of business and survival rates of microenterprise was statistically significant. Restaurant, retail/wholesale, and business supporting services had lower survival rate than other businesses such as construction, social services, manufacturing, and farming/forestry. According the results of the logistic regression analysis, controlling for ‘types of business, ‘sex’, ‘economic situation’, and ‘forms of business’ had no influence on the survival rate of micro-enterprises, while ‘types of business’ turned out to independently influence the survival rates. These results suggested that supporting strategy for micro-enterprises is critical for economically vulnerable entrepreneurs, and the most important survival strategy is to choose a right business type.
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KEYWORD
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micro-enterprises, types of business, survival rates of micro-enterprises, micro-enterprise support program
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