중소기업적합업종 지정제도가 중소기업의 경영안정과 사업영역보호에 미치는 효과분석

This study estimated the effect whether the designation of ‘the business types and items suitable for SMEs’(hereinafter referred to as "suitable industry") contributed to promote managerial stabilization and protect business area of SMEs. Establishment-level panel data (2009~2021) were used for all 108 items that had been designated as suitable industry for SMEs since 2011 and expired. The significance of this study, which is different from previous studies, is the representativeness of the suitable industry sample, the selection of a control group to solve the selection bias problem, and the estimation of the effect of designating the suitable industry on the probability of facing a managerial crisis. First, it is estimated that the sales of SMEs that produce items of suitable industries increased during the protection period compared to the control group, contributing to the managerial stability of SMEs. Second, it is estimated that the designation of suitable industries has the effect of lowering the probability of insolvency risk due to operating profits not being able to cover interest expenses. Third, after the end of the suitable industry period, the continuity of the growth effect deteriorated, and in particular, the growth effect of small businesses compared to general SMEs was not statistically significant. Fourth, in the case of the service industry, growth and profitability effects were not statistically significant, but the designation of suitable industries lowered the risk of exit, showing the effect of protecting the business areas of SMEs.