Premier Jiang Yi-huah today said that the Financial Supervisory Commission's (FSC) plans to help budding microbusinesses raise capital would not only enable industries to deliver more innovation and value but enhance the island's economic competitiveness.
Under the program, small creative companies showing high potential may apply to list on a "startup board" within the local over-the-counter market. A public joint-assistance mechanism will also be established to offer counseling on a full range of business matters such as financing, accounting, internal control, marketing, legal systems and corporate governance.
Jiang said the startup board will bring diversity to Taiwan's capital market, inject new life into the economy and create job opportunities. He asked the Ministry of Economic Affairs, Ministry of Culture, Council of Agriculture and National Science Council to give full support to the FSC in rolling out the program.
Among other advantages, the FSC expects the program to usher in regional economic development, stimulate employment, nurture small companies and help them raise capital. Creative industries will also see more robust development while small and medium-sized enterprises will play greater roles in Taiwan's economic development. Approximately 70 microbusinesses are expected to list on the startup board in 2014 and raise a total capital of NT$210 million (US$7 million).