A Japanese government ministry official in charge of supporting small to medium size businesses said a recent event in Tokyo said that a shocking number of profitable privately-owned small to medium sized companies with perfectly viable businesses are simply closing as their aging CEOs are unable to find a reasonable successor. The children of the owners who might take over the family business frequently lack either appetite or the aptitude to do so, and few if any possible buyers for the business ever materialize. Rates of entrepreneurship in Japan in general are about half of other OECD countries.
From left to right, Steven Bleistein, Jim Thompson, and Thomas Shockley
On February 5th, I organized a lunch with Jim Thompson, CEO and founder of Crown Worldwide. The lunch, hosted by the American Chamber of Commerce in Japan, was fully booked with twenty people in attendance.
You may not have heard of Crown Worldwide, but they are one of the largest logistics, international relocation and document storage companies in the world. You probably have seen their trucks, present in many cities around the globe. They bright red sporting a yellow crown. Continue reading →
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