정책금융이 중소·벤처 창업기업의 성공에 미치는 영향 연구(An Study on the Impacts of Policy Fund on the Success of the Small and Medium-Sized Ventures)

44 Pages Posted: 19 Aug 2017 Last revised: 10 Jan 2019

See all articles by Kyunghwa Bae

Kyunghwa Bae

small & medium business corporation

Date Written: December 31, 2005

Abstract

Korean Abstract: 본 연구에서는 1998년부터 2003년까지 중소·벤처 창업자금을 지원받은 창업기업중 창업보육센터(Business Incubator)에 입주한 창업기업의 창업성공률 제고에 영향을 미치는 창업성공결정 요인에 대해서 살펴보았다. 본 연구결과에 따라 우선, 정부의 직접적인 자금지원은 자금과 하드웨어적인 인프라 결합되어 지원되어야 하며, 창업초기에 집중되어야 할 것이다. 둘째, 중소·벤처기업창업자금을 비롯한 각종 정책자금에 대한 정책평가기능을 강화하고, 효율적인 집행이 되도록 하기 위해서는 체계적이고 객관적인 정책평가기능 마련이 시급하다. 셋째, 정책자금, 특히 리스크가 크고 민간 금융시장에서 자금을 조달 받지 못하는 중소·벤처기업의 경우의 자금지원은 그 지원형태의 다양화는 물론이고, 그 운영에 있어서 정부가 직접적인 개입을 하지 말아야 한다. 그리고 중소·벤처기업을 지원하기 위한 여러 정책자금의 운영을 중소기업지원기관에 일괄 운영하도록 함으로서 정책자금의 관리와 운영에 있어서 효율성과 합목적성을 확보해 할 것이다. 마지막으로, 창업기업이 창업성공률을 높이는데 영향을 미치는 무수한 요인들을 모두 정부가 효율적으로 운영될 수 있도록 지원할 수는 현실적으로 어렵다. 따라서 창업성공률 제고에 중요한 영향을 미치는 요인들 중에 대한 정부의 지속적인 지원이 필요하다. 결국, 현재 우리나라가 겪고 있는 경제적인 어려움을 극복하는 가장 근본적인 치유책으로는 다른 무엇보다도 활발한 창업활동과 그에 따른 창업기업의 창업성공률이 제고되어야 한다는 것이다. 따라서, 중소·벤처 창업기업의 창업성공률 제고를 위해 창업성공결정요인으로서 정책자금은 중요한 의미를 가진다.

English Abstract: This Study looks into factors affecting the success of startups of the small- and medium-sized ventures that were financially subsidized from Year 1998 to Year 2003 and that established their businesses in the Business Incubator Centers. In order to find out how determining factors have affected the success of financially subsidized startups, I have analyzed financial indicators, such as the growth rate of total assets, the growth rate of total revenue, and the growth rate of net profit for the year. They are some of major growth indicators in business management analysis. The results of multiple regression analysis and logistic regression analysis on effects of determining factors in the success of startups are as follows: It is found that education background of the founder and business site have statistically significant effect within a 5% significance level on the growth rate of net profit of the year when grants are given. Here, education background of the founder has plus relation while business site minus relation. Regarding the growth rate of total assets of the year, only age of the founder is found to be significant, and it’s minus relation. Education background of the founder and financing public funds have also minus relation on the growth rate of the total assets in the next year. Based on the findings in the above, the government should channel direct financial support to startups in the early period. In order to raise the success rate of startup ventures, startup funds should be given to businesses established in Business Incubator Centers or a venture complex that is already equipped with startup infrastructure. A variety of governmental funds including startup funds for small- and medium-sized venture businesses are enormous in its amount but policy evaluation function of those funds falls short. Given that policy evaluation on existing funds is poorly performed, systematic and objective policy evaluation should be preceded so as to make sure that financial support for small- and medium-sized venture businesses reflect a changing policy environment and demand for support from the businesses. Financing on loan is not desirable, given that small- and medium-sized venture businesses don’t have a enough guarantee due to lack of tangible assets and business performance. Therefore, financing for startups is to be diversified, and for the sake of effective and justified fund management, funds allocated for small- and medium-sized venture businesses are to be in charge of a SME corporation. Finally, on top of the factors analyzed in this study, there are a myriad of other factors that affect the success rate of startups, and it is difficult to make all of them effective. Therefore, the government should actively engage in such major factors as recruitment, surrounding business environments, and raising the capital necessary for startups, which have been consistently maintained as crucial to raising the success rate of startups.

Note: Downloadable document is in Korean.

Keywords: 창업보육센터, 정책자금, 창업, 성공률, 정책, 중소기업, Business Incubator, Policy Fund, Start-Up, Policy, Small-Medium Enterprise

JEL Classification: H5

Suggested Citation

Bae, Kyunghwa, 정책금융이 중소·벤처 창업기업의 성공에 미치는 영향 연구(An Study on the Impacts of Policy Fund on the Success of the Small and Medium-Sized Ventures) (December 31, 2005). Financial Stability Studies, Vol. 6, No. 2, Korea Deposit Insurance Corporation(KDIC), 2005, pp. 116-159.. Available at SSRN: https://ssrn.com/abstract=3019845 or http://dx.doi.org/10.2139/ssrn.3019845

Kyunghwa Bae (Contact Author)

small & medium business corporation ( email )

Register to save articles to
your library

Register

Paper statistics

Downloads
18
Abstract Views
209
PlumX Metrics