According to the New York Times, profitable business owners in Japan cannot find successors. As a result, one model is to give the business away.
Questions:
- In a few words explain the underlying problem that business owners are facing.
- According to Japan’s trade ministry, how many profitable companies will close by 2025?
- How much could the closing companies cost the economy?
- How many jobs could be lost if these profitable companies close?
- Why don’t the children of the business owners want to take over the businesses?
- What is the company Relay’s role in this dilemma?
Source:
Dooley, B. and H. Ueno. (2023). Japan’s Business Owners Can’t Find Successors. This Man Is Giving His Away. The New York Times, Jan. 3 (Retrievable online at https://www.nytimes.com/2023/01/03/business/japan-businesses-succession.html)