6 January 2014

Small businesses in Taiwan get more support

Taiwan microenterprises are poised to get more help from the government. Premier Jiang Yi-huah has urged government agencies to work together to help these businesses reach their ideals and goals at the January 3 launch ceremony for the Go Incubation Board for Startup and Acceleration Firms (GISA).

According to Jiang, there are about half a million small and medium-sized enterprises with capital of NT$1 million to NT$50 million (US$33,557 to US$1.68 million) in Taiwan today, accounting for 82 percent of all companies in Taiwan. 

“This startup board represents a significant breakthrough in the government’s economic policy as it will help microenterprises raise the capital they need to develop into viable businesses,” said Jiang. 

The Executive Yuan has also pooled together resources for microenterprises, including the National Development Fund managed by the Council for Economic Planning and Development and the startup board set up by the Financial Supervisory Commission (FSC). 

The 19 startups listed on the GISA board include tech companies as well as cultural creativity companies, agricultural businesses, fishery and livestock companies, biomedical firms and social enterprises.