The aging country of Japan has all the prosperity one can imagine, but there has emerged a lack of heirs to handle the same. The businessmen are turning old and without a successor, the threat of 6.30 lakh businesses shutting down in the next 3 years has emerged. All these businesses are earning profits, and if they shut down, Japan will have to bear a loss of 14 lakh crore rupees, and 65 lakh jobs will cease to exist. The average age of the owners of these businesses has reached 62 years, and they now want to retire, and hence, they are looking for successors.
Many of them do not have children while the children of others are not interested in managing their father’s business. Even the workers in these businesses are living through the fifth or sixth decade of their lives, and that is why, even they cannot take the business over. At this stage in life, many of the businessmen want to hand their businesses over to others for free, but there are no successors available. There is no certainty of the future in around 60% of the country’s business.
Now, companies have opened up in Japan for the same, which are providing businesses with successors who will be able to manage the same. The Japanese government itself is persuading these business owners to keep running their business rather than getting retired. The government too, in order to seek buyers, has established service centres all across the country. The new owners are being provided with subsidies and tax concessions.
