To what extent is it possible that entrepreneurs based in Japan who could start a startup instead choose to take over an existing company that lacks a successor for the sole purpose of using the collateral of such a company to secure financing? It seems that there are hundreds of thousands of such firms in Japan that lack a viable succession plan for their top management. Such a path could make it easier for entrepreneurs to obtain loans to start new businesses from within an old company.
My gut reaction is that this would not work. Entrepreneurs want to start their own company from scratch, not try to convert an older one into a different kind of business. Also, there are different cultures. What is needed is more M&A for these older healthy companies, including with foreign firms. This is a topic in my book.
Terrific! (Of course – a summary isn't a substitute + everyone should buy the book to understand fully what the author is offering about Japan's past, present, and FUTURE.)
To what extent is it possible that entrepreneurs based in Japan who could start a startup instead choose to take over an existing company that lacks a successor for the sole purpose of using the collateral of such a company to secure financing? It seems that there are hundreds of thousands of such firms in Japan that lack a viable succession plan for their top management. Such a path could make it easier for entrepreneurs to obtain loans to start new businesses from within an old company.
My gut reaction is that this would not work. Entrepreneurs want to start their own company from scratch, not try to convert an older one into a different kind of business. Also, there are different cultures. What is needed is more M&A for these older healthy companies, including with foreign firms. This is a topic in my book.
Got it. Thanks for your quick response.
Terrific! (Of course – a summary isn't a substitute + everyone should buy the book to understand fully what the author is offering about Japan's past, present, and FUTURE.)