South Korea: major business challenges for SMEs 2018

This statistic illustrates the most important challenges that small and medium-sized business owners face in South Korea as of April 2018. During the surveyed period, 63 percent of respondents replied both with increasing revenue and attracting customers as the major challenges.

Most important challenges that small and medium-sized business owners face in South Korea as of April 2018

Characteristic	Share of respondents
Increasing revenue	63%
Attracting customers	63%
Maintaining profitability	56%
Securing financing for business as usual	44%
Retaining/recruiting skilled employees	39%
Securing financing for expansion	35%
Uncertainty over economic conditions	31%
Developing new products/innovation	27%
Selling to foreign markets	18%
Finding/working with suppliers	18%
Tax laws and rules	16%
Other government regulations	15%

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Release date

July 2018

More information

Region

South Korea

Survey time period

April 2018

Special properties

Based on survey data collected on a monthly basis

Method of interview

Online survey

Supplementary notes

Original question:
"What are the most important challenges your business currently faces?"

The source does not provide an exact publication date. Date given here is the day of data access.

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