Innholdsfortegnelse for November/December 2023 i Entrepreneur Magazine

You wouldn’t be reading this magazine today if it weren’t for Peter Shea. He’s my dad. And decades before I followed in his footsteps and became the CEO of Entrepreneur Media, he was the one that saw its potential, bought this company, and saved it from bankruptcy. He passed away on September 21, 2023, and I’d like to take a moment to memorialize him here, and to share what made him such a consummate entrepreneur. Peter Shea took an unconventional path. He began working at a car wash at age 12. Then he painted houses, participated in self-defense schools, ran a restaurant, and even became an undercover narcotics cop. But his entrepreneurial path really began in the world of offce supplies. He was working as a salesman for the offce…

I run a company of 400 people. It’s only possible because of a decision I made soon after we launched—even though it had nothing to do with business: I decided to see a therapist. I hadn’t set out to be an entrepreneur; I was an English major in college, busy reading Dostoevsky and philosophy. Then I rented a tuxedo to get married, and it was an atrocious process. There must be a better way, I thought. My groomsman, Patrick Coyne (who had the same experience), agreed, and we cofounded The Black Tux in 2013 with the plan to rent well-fitting, high-quality suits and tuxes online—which turned out to be operationally complicated and immediately popular. By age 28, I was leading a fast-growing business and feeling very outmatched. People needed me…

Q I always seem to lose in workplace conflicts. How can I win more? —JULIO, HOUSTON, TX YOU SAY YOU’RE bad at resolving conflicts. Before we address that, let’s back up and ask: What exactly is conflict…to you? Everyone defines conflict differently. Maybe it’s a disagreement. Or a fight. Or whenever people raise their voices. Whatever your answer, I’d encourage you to reframe how you think about conflict. What if it’s not a zero-sum game at all? What if “conflict” simply means there’s more than one idea on the table—and someone else is advocating for their idea as passionately as you advocate for yours? When you think of it this way, conflict isn’t necessarily bad. My former boss, Donnie Peaks, used to say, “You might be the smartest person in the…

Maëlle Gavet CEO of Techstars, the world’s most active pre-seed investor How startups will meet the crises of the moment… “2024 will be driven by two conditions. The first is a challenging macroeconomic environment, and the second is excitement around AI. We expect to see an uptick in applications from startups that lower costs for consumers, and help solve societal challenges exacerbated by recessionlike conditions. Healthcare—and in particular, innovation geared toward Medicaid enrollees—will be a major focus. At the same time, we’re anticipating a whole new world of companies powered by artificial intelligence, particularly in industries like space and defense.” Paige Hendrix Buckner CEO of All Raise, which works with underrepresented investors How founders will fundraise in a rocky economy… “Venture firms do have capital to deploy—hundreds of billions each…

Is your business “making the world a better place”? It’s become a business cliché, because everyone wants to feel good about making money. But if your company didn’t start out with an altruistic mission, it can often feel like the incentives are out of whack. But don’t write yourself off just yet, says Patagonia’s director of philosophy, Vincent Stanley. He wants you to know that even the most celebrated philanthropic business didn’t start out that way. “Patagonia was meant to be an easy-to-milk cash cow,” he says. “Not a risk-taking, environment-obsessed, navel-gazing company.” Stanley has been with the outdoor apparel brand since 1973, when his uncle, Yvon Chouinard, started it as an offshoot to support his real venture, making rock-climbing equipment. But as Patagonia grew, Stanley says there were “a…

Private consumption and investment have been the driving forces behind Japan’s economic recovery from the COVID-19 pandemic, according to the International Monetary Fund. Furthermore, the IMF expects this growth to further accelerate in the current year. Exports are on the rise, and the forecasted current account surplus stands at a robust 2.9%, signaling the resurgence of Japan’s globally competitive businesses. The Japanese chemicals industry houses many of these businesses, with Japan ranking as the world’s third-largest chemicals producer, according to the Japanese Chemical Industry Association. The chemicals industry contributes JPY 18 trillion in value-added to the economy, with JPY 2.6 trillion allocated to R&D, accounting for over a sixth of the manufacturing sector’s R&D expenditure. Mitsubishi Chemical Group (MCG) stands as one of the world’s largest chemical producers. While the…

According to a 2022 report by Fitch Ratings, an impressive 96 out of the top 100 companies in Japan find themselves in “positive credit change zones.” This finding is indicative of the expected reduction in leverage across these businesses, as the increase in EBITDA generation effectively counters the rises in capital expenditure and dividends. These results underscore the remarkable resilience and profitability of the Japanese corporate sector, despite global headwinds. In this affluent and consumer-conscious market, the soft drinks industry is thriving. Statista predicts that it will generate over $27 billion in revenue in 2023, equating to a per-person expenditure of $127. Coca-Cola Bottlers Japan Holdings Inc. (CCBJH) stands as the largest bottler of the iconic soft drink in Japan and is responsible for approximately 90% of sales volume in…

As the world deals with the serious threat of climate change and the social structure transforms to reduce CO2 emissions, the electrification of the automotive industry will continue to accelerate, with hydrogen attracting attention as a clean energy source. Additionally, with the advancement of digitalization and automation, an increase in medium-to-long-term demand is expected for semiconductor-related products. Daido Steel supplies high-performance materials to various industries such as aircraft manufacturing, energy, industrial machinery, electronics, information and communications, and medical equipment through its outstanding technological capabilities. As the social structure continues to change, Daido will continue to contribute to the “realization of a green society” by sincerely listening to the needs of people and taking on the challenge of going “Beyond the Special” to provide products that support changing lifestyles. Japan’s steel…

In recent decades, Japan’s accelerating external globalisation has netted it strong growth and closer economic ties with Asia’s fastest-growing markets. Last year, Japan’s annual outward FDI flows rose to USD 161.56 billion, according to Statista, up 10.7% year-over-year, whilst between 2000-2019, FDI income from Japanese firms overseas soared from JPY 1.8 trillion to JPY 14.4 trillion, according to the Bank of Japan. On the flip side, Japan’s world-leading domestic infrastructure and government incentives for new R&D – including fast-tracked patent examinations – have made it a business hub for overseas firms. Since the 1980s, Japan has dominated the global gaming industry and is now the world’s third-largest video games market, with revenue projected to reach USD 46.18 billion in 2023 and USD 57.96 billion in 2027, according to Statista. Whilst…

According to a July survey by The Asahi Shimbun, Japanese business confidence has doubled since spring of 2021; 76% of business leaders surveyed express belief that the economy is expanding, and that personal consumption is improving. As Japanese businesses ride the post-pandemic economic high, so is its entertainment sector. Japan’s nightlife scene is dominated by karaoke, a regular fixture in major cities and small towns, with millions of people from all generations participating in karaoke sessions each year in an industry worth upwards of JPY 380 billion, according to Statista. Founded out of a ramen shop, Koshidaka Holdings operates Japan’s largest karaoke chain. An on-trend entertainment pioneer for the past three decades with a unique revitalisation business model, the company now wants to bring the joy of karaoke to the…

According to a July 2023 outlook report by the Bank of Japan (BOJ), Japan’s economy will “continue growing at a pace above its potential growth rate as a virtuous cycle from income to spending gradually intensifies the overall economy.” Alongside a substantial wage increase, the BOJ cited advances in digitalisation and increased investment in human capital as driving forces behind a strong flow of corporate profits and the country’s sky-high equity market. Going forward, the BOJ expects businesses to continue investing in research and development (R&D), decarbonisation, and strengthening their supply chains. Japan is one of the world’s biggest beauty and personal care markets. Industry revenue currently amounts to USD 41.88 billion, according to Statista, with 23.7% of total revenue attributed to e-commerce. Japanese consumers value high-quality products and are…

Japan’s economy experienced a remarkable surge, growing at an annualized rate of 6% year-on-year in the second quarter of 2023. This growth nearly doubled what economists had projected. A significant boost in exports played a pivotal role in this economic achievement, pushing net trade to unprecedented levels. Echoing this uptrend, Japan’s construction industry is witnessing “robust activity,” as highlighted in a recent report by the global professional services company Deloitte. The report projects that the construction sector will contribute a staggering JPY62.1 trillion to the economy this year. In the competitive construction materials sector, Vertex stands out distinctly. Offering a diverse product range—from concrete to netting that controls rockfalls—the company boasts a comprehensive portfolio of construction materials designed to instill peace of mind. By leveraging proprietary technology and an extensive…

The world’s third-largest economy, Japan is one of the great economic success stories of the modern era. One of the drivers of this success has been Japan’s trading companies, which capitalise on the country’s productive capacity, excellent infrastructure, and large domestic market. O’Will Corporation is more than just a trading company – it positions itself as a market-builder, creating added value for its customers by developing new supply sources, client networks, and market potential. Its combination of the detail-oriented approach of a speciality seller and broad range of a general trader makes it unique. It handles a range of products from food additives (where it has a 13% market share of ascorbic acid in Japan) through dairy products (a 10% market share in pasteurised milk), beverages, and wastewater purification and…

As Japan strengthens its economic recovery, its biggest industries are regaining momentum. According to the World Travel & Tourism Council, Japan’s travel and tourism sector’s GDPcontribution will reach USD285.5 billion in 2023 and drive a 553.4% surge in international visitor spending to USD 16.8 billion. One standout sector is wellness, with pioneers like Slim Beauty House leading the way. Centered around holistic concepts of beauty, health, and wellness, Japan’s beauty industry’s focus on both physical and psychological therapies has gained significant popularity worldwide. According to the Global Wellness Institute, Japan is now the world’s third-largest – and Asia’s second-largest – wellness tourism destination. Founded in Tokyo, Slim Beauty House is a technologically advanced beauty company with a unique, research-driven program that combines Oriental aesthetic principles with modern science to impact…

Japan’s economy, the world’s third largest, surprised on the upside in the first quarter of 2023, growing at an annualised rate of 2.7%, almost a percentage point above analyst forecasts. Capital spending helped drive growth, as companies confidently invested for the future. Japan has long been known for its high-tech, high-quality manufacturing sector, so it is little surprise that the country leads the world in robotics and automation. Some 45% of the industrial robots produced in the world are manufactured in Japan, according to the International Federation of Robotics. Japan has been a global leader in automation since at least the 1960s, when the government launched a campaign to modernise the country’s industry. Azbil Corporation is at the forefront of Japan’s thriving automation industry, with an international presence in BA…

Although the meal preparation and delivery category is just emerging, we think it has lots of potential to grow—as busy consumers seek ways to make mealtime both easier and healthier. Expect to see more franchisors show up in this space soon. Delish Delivered Meal preparation and delivery TOTAL UNITS (Franchised / Co.-Owned) 1/1 STARTUP COST $86.4K-$330.5K Lean Kitchen Company Healthy prepared meals, beverages, nutritional supplements TOTAL UNITS (Franchised / Co.-Owned) 31/2 STARTUP COST $151.5K-$441.8K Meals of Hope Meal packing events TOTAL UNITS (Franchised / Co.-Owned) 7/1 STARTUP COST $61.1K-$71.9K The New York Butcher Shoppe Meats, prepared meals, specialty groceries, wines TOTAL UNITS (Franchised / Co.-Owned) 19/8 STARTUP COST $438K-$776K PDX Meal Prep Healthy meal delivery TOTAL UNITS (Franchised / Co.-Owned) 0/1 STARTUP COST $63.1K-$76.3K…

Restoration franchises thrive in any conditions—because the worse conditions are, the more their services are needed! The never-ending need for restoration and remediation after fires, floods, and other disasters makes this one of the most resilient categories of franchising. AdvantaClean Mold remediation and indoor air quality services TOTAL UNITS (Franchised / Co.-Owned) 132/0 STARTUP COST $115.98K-$196.5K All Dry Services Water and mold remediation and restoration TOTAL UNITS (Franchised / Co.-Owned) 125/1 STARTUP COST $87.7K-$275.3K Aqua Express Restoration Water and fire damage restoration and mold removal TOTAL UNITS (Franchised / Co.-Owned) 0/1 STARTUP COST $182.3K-$236.2K Best Option Restoration Disaster restoration TOTAL UNITS (Franchised / Co.-Owned) 39/0 STARTUP COST $155.5K-$200K Blue Kangaroo Packoutz Contents restoration TOTAL UNITS (Franchised / Co.-Owned) 91/1 STARTUP COST $221.8K-$431.4K Disaster Blaster Property damage mitigation and reconstruction TOTAL…

1/The word “you” For consumers in individualistic cultures (like the U.S.), the word “you” makes them feel more involved with your brand. In one study, a Facebook post that said, “Maximize your savings!” made people feel 19.7% more involved versus one that said, “Maximize savings!” 2/Negations no, don’t, or nobody—increase Negative-sounding words—like people’s engagement. Scientists found that out by looking at over 53 million social media likes, comments, and shares, and confirming their findings with two controlled experiments. Remember that? No—don’t forget that. 3/Multiple copies Don’t just show one of your product. Show many! When we see multiple identical products, we perceive them as more effective at the benefit they promise. In one study, people thought an energy shot was 10.7% more energetic after seeing a group of them, versus…

As Japan entered the new year, fresh from relaxing its COVID-19 restrictions, proof of its economic resilience came instantly. Among the major developed economies, Japan boasted the highest employment rate in the first quarter of 2023, at 77.3%, according to Statista. To ensure continuous economic growth, Japan needs to address its most significant social challenges, particularly the increased demand for healthcare due to its aging and declining population. Japan’s highly sophisticated insurance market will be an essential tool in addressing the evolving needs of its citizens, particularly given that the country has one of the highest rates of insurance policy ownership globally. Japan’s insurance market is among the largest in the world, with some of the highest premiums written globally. In2021, 72% oftotalgrosspremiumswritten in 2021 were for life insurance, amounting…

Japan “continues to post economic gains, with a service sector recovery and pent-up demand driving growth”, according to a recent report by global professional services firm Deloitte. An upcoming wage bump and accommodative monetary policy should help support demand through the year. Solid growth, high incomes, and an aging population make Japan the world’s third-largest pharmaceutical market, according to the US International Trade Administration. The country is home to one of the world’s most innovative pharmaceutical sectors, exporting drugs worth $45bn annually. Osaka-based Shionogi is at the cutting edge of this industry, and is building a global presence. Shionogi aims to continue to grow sustainably with society by addressing the needs of patients and society around the world, by continuously creating innovation solutions for a wide range of healthcare issues.…

As highlighted by KPMG, “Japan has great potential to become a regional hub and R&D center in Asia.” This is attributed to its robust economy, a workforce brimming with talent, a dependable tax framework, and its longstanding culture of openness and innovation. In a proactive step to energize its private sector, the Japanese government unveiled an updated rendition of its ‘new capitalism’ strategy in June 2023. This strategy emphasizes the importance of investing in human capital, groundbreaking startups, GX & DX, as well as science, technology, and innovation. Paired with meaningful labor reforms, the aim is to boost productivity, thereby fostering a prosperous cycle in which rising income spurs increased spending. Delving into the heart of Japanese entertainment, pachinko shines as an iconic and cherished pastime. Bearing similarities to a…

In an age where economic growth is a challenge due to a declining population, Japan is capitalizing on its renowned culture of innovation to reinforce its traditional strengths. Central to this is the government’s ambitious ‘Society 5.0’ initiative, designed to integrate groundbreaking technologies like AI and IoT to propel human development into its next phase. Alongside digital transformation (DX), Japan is also keenly focused on green transformation (GX). A comprehensive GX roadmap was unveiled in December 2022, earmarking a staggering JPY 150 trillion for public-private financing over the next decade to accelerate the sustainability efforts of businesses both in Japan and across Asia. Founded in 1980, FORVAL Corporation has emerged as a cornerstone in this ambitious vision, expertly guiding SMEs in Japan and beyond in both DX and GX. With…

According to McKinsey, by 2030, Japan could undergo “one of the most inspirational transformations of our time.” Japan has the right endowment, with smart citizens and quality assets; the technology to build is readily available, and the barriers to transformation are largely mindset-related.” The business consulting industry plays a pivotal role in transforming Japan’s mindset. In 2022 alone, it generated revenues of JPY 5.8 trillion, as reported by Statista. Faced with an aging and shrinking workforce, Japan’s demand for HR-centric solutions and strategies to enhance organizational performance has surged in the past decade. Consequently, consulting firms addressing these needs have emerged as vital drivers of growth. Established in 2000, Link and Motivation stands out as a leading Japanese business consulting firm. It seamlessly blends academic research, business administration, social systems…

According to the World Intellectual Property Organisation’s (WIPO) 2022 Global Innovation Index (GII), Japan is the world’s 13th most innovative country and fourth most across Southeast Asia, East Asia, and Oceania. Japan is a “leader in innovation,” according to the index’s measurement of innovation and economic development, and it scores amongst the highest in the world for how effectively it converts high-cost innovation investments into high-quality products. Japan also scores highly in R&D, ranking fourth globally, as well as human capital, where it ranks third for the percentage of research talent in business. Japanese innovation has helped it become the third-largest auto-producing nation in the world. In 2021, Japan produced 7.85 million vehicles, according to the International Organisation of Motor Vehicle Manufacturers (OICA). Of this figure, 6.6 million were non-commercial…

With a GDP of USD 4.231 trillion as of 2022, Japan is the world’s third-largest economy, according to the World Bank. SMEs dominate the economic landscape, accounting for 99.7% of all businesses and employing 70% of the workforce, according to ministry data. Japan is committed to becoming net-zero by 2050, and helping SMEs embrace environmentally friendly energy sources will be vital to realising a sustainable future and a more competitive business community. Founded in 2005, Gremz provides Japanese SMEs with environmentally friendly, cost-cutting energy solutions. Gremz specialises in photo-voltaic systems for businesses, storage batteries, and electricity retailing services for low and high-voltage clients and is listed on the Tokyo Stock Exchange (TSE). Since spotting a gap in the market for SME-focused energy services, Gremz has grown its customer base to…

As Japan’s core inflation held above the Bank of Japan’s 2% target for the 16th consecutive month in July 2023, the country’s decades-long struggle against deflation seems to be at an end. Japan’s economic progress is welcome news for inbound investors, who can now reap the rewards of its future-ready business community with confidence. Japan is committed to reaching carbon neutrality by 2050, and businesses have responded with overwhelming financial support. According to Reuters, the volume of sustainability, social, and green bonds sold domestically increased a staggering 47 times between 2016-20, reaching JPY 2.1 trillion. One company leading the way in Japan’s green finance market is NEXYZ.Group, whose flagship financial business, NEXYZ.ZERO, provides embedded finance for energy-efficient products such as LED lighting with zero upfront investment. NEXYZ.ZERO has already amassed…

According to a July 2023 economic outlook report by the Bank of Japan (BOJ), “as a virtuous cycle from income to spending gradually intensifies, Japan’s economy is projected to continue growing at a pace above its potential growth rate.” Beyond pent-up demand and stimulative financial conditions, the BOJ highlighted investments in the labor market, digitalization, productivity, and R&D related to decarbonization as primary growth drivers. Japanese electronic components manufacturers continue to have a strong presence, producing one-third of the world’s total demand. According to the Japan Electronics and Information Technology Industries Association, the value of production by Japan’s electronic component manufacturers is set to grow 4.0% year-over-year, reaching JPY 10.8456 trillion in 2023. One of the factors supporting this growth is the transformation towards a carbon-neutral society, particularly the vehicle…

Japan is not only the world’s third largest economy. According to EU data, Japan also has the third largest insurance market. In a report on the industry outlook for 2023, global professional services company PWC emphasised the need for accelerated digital transformation in the Japanese insurance industry, including increased deployment of cloud platforms. Among the numerous insurance categories in the Japanese insurance market, pet insurance is one of the few growing sectors. The penetration rate for pet insurance is only around 16%, and further market expansion is expected in the future. Due to rapidly changing global circumstances and accelerating technological advancements, society as a whole has become increasingly engulfed in a sense of anxiety and loneliness. Pets, who provide comfort in such solitude, have gained even more value in recent…

The children’s enrichment industry is ever-expanding, and STEM enrichment programs are the most popular. Why? Parents recognize the importance of science, technology, engineering, and math—as well as the critical thinking and creativity these programs seek to develop. They’re investing in their children’s future, and franchises are rising to the task. Brooklyn Robot Foundry STEAM enrichment programs TOTAL UNITS (Franchised / Co.-Owned) 2/1 STARTUP COST $90.8K-$117.2K Challenge Island Educational enrichment programs TOTAL UNITS (Franchised / Co.-Owned) 216/7 STARTUP COST $53.4K-$68.9K Club SciKidz STEM enrichment programs TOTAL UNITS (Franchised / Co.-Owned) 12/1 STARTUP COST $63.7K-$76K Code Ninjas Computer-coding learning centers for ages 5 and up TOTAL UNITS (Franchised / Co.-Owned) 378/7 STARTUP COST $149.8K-$378.1K theCoderSchool Coding education for ages 7 to 18 TOTAL UNITS (Franchised / Co.-Owned) 57/3 STARTUP COST $77.7K-$193.95K Code…

Pests and wildlife aren’t just a nuisance—they can spread disease, cause damage, and carry other dangers. That’s why pest-control and wildlife-control franchises are considered essential businesses. Many also work well as seasonal businesses that can be added on to other home services businesses. Deer Solution Deer repellant services TOTAL UNITS (Franchised / Co.-Owned) 5/1 STARTUP COST $97.3K-$133.4K Mosquito Authority Mosquito control TOTAL UNITS (Franchised / Co.-Owned) 541/1 STARTUP COST $54K-$127.7K Mosquito Hunters Mosquito, tick, and flea control TOTAL UNITS (Franchised / Co.-Owned) 133/6 STARTUP COST $99.8K-$116.8K Mosquito Joe Outdoor pest control TOTAL UNITS (Franchised / Co.-Owned) 419/2 STARTUP COST $112.8K-$153.4K Mosquito Mary’s Outdoor pest control TOTAL UNITS (Franchised / Co.-Owned) 10/2 STARTUP COST $92.96K-$116.9K Mosquito Shield Outdoor pest control TOTAL UNITS (Franchised / Co.-Owned) 375/0 STARTUP COST $98.9K-$139.95K Mosquito Squad…

Consumers are looking for creative ways to get and stay active, and sports-related franchises are ready to fill that need. You’ll find franchises offering children’s sports enrichment programs, sports-based fitness programs for adults, golf simulators, pickleball clubs, swim classes, and more. Ace Pickleball Club Indoor pickleball clubs TOTAL UNITS (Franchised / Co.-Owned) 0/1 STARTUP COST $910.5K-$1.3M Amazing Athletes Educational sports programs TOTAL UNITS (Franchised / Co.-Owned) 134/13 STARTUP COST $58.1K-$91.5K American Poolplayers Association Recreational billiard leagues TOTAL UNITS (Franchised / Co.-Owned) 334/6 STARTUP COST $23.2K-$29K Aqua-Tots Swim Schools Swimming lessons TOTAL UNITS (Franchised / Co.-Owned) 137/1 STARTUP COST $984.1K-$2M Athletic Republic Sports performance training and fitness TOTAL UNITS (Franchised / Co.-Owned) 42/0 STARTUP COST $285K-$627K Big Blue Swim School Swimming lessons for ages 3 months to 12 years TOTAL UNITS…

1/“I’m too urgent.” “I tend to be ‘Mrs. Urgent,’ maybe stemming from the immigrant sense that ‘you’ve got to make it or go home [to the Czech Republic].’ That ‘time is money’ urgency has rendered my managerial style intense, and definitely uncool in the era of ping-pong table startups. But it’s also unlocked doors. I’m always working to make it productive and not a fire drill, but I’d rather have it than lose it.” —JANA BOBOSIKOVA, cofounder and CEO, Kiki 2/“I’m too ADHD.” “I have ADHD, like many others. It often means spending time on less-critical tasks, while pulling my inner 4-year-old kicking and screaming to focus on more important tasks. But our company principle is: ‘Always work on the most important thing.’ This allows me to evaluate, let go…

1/Play footsie at work. Wouldn’t it be nice to escape the desk and go get a massage? When that’s not possible, you can bring the massage to you. The podlike Renpho Shiatsu Foot Massager Premium [$200; renpho.com] fits underneath your desk. Just slip your feet in (up to a men’s size 12) and it employs a series of rollers and pads to squeeze, scrape, and knead for up to 30 minutes a session—with three levels of intensity, plus air pressure and the option to add heat. That’s relaxation you can easily work into lunch hour. 2/Personal, portable power plant. A small charger is sufficient if a smartphone is all you travel with. If not, the Anker Prime 20,000mAh Power Bank [$130; anker.com] is a nearly 5-inch-tall brick that, at just…

As generative AI rose in prominence this year, Jayesh Gadewar had a thought: We can use this to leapfrog our competitors. He’s the cofounder of Scrut Automation, a startup that builds compliance and security software for businesses, but as far as AI, they just didn’t have the expertise. So he did what many other leaders are now doing: He hired an AI consultant. “Generative AI is funny in that the basic capabilities you get for your $20 a month for ChatGPT Plus are pretty impressive,” says Tom Davenport, professor of information technology and management at Babson College and a senior advisor at Deloitte’s AI practice, “but to customize it is technically challenging.” That’s why, since OpenAI’s chart-topping chatbot landed a year ago, a new breed of specialist has risen to…

Boasting a multi-decade-high equity market, a supply chain haven for countries diversifying away from China, and “immense technological innovation and digitalisation,” according to the IMF, Japan continues to remind global investors why, in 2023, they should bet on Asia’s largest and most advanced economy. Enabled by the Bank of Japan’s ultra-loose monetary policy, this year marks a historic turning point for Japan – a meaningful return to healthy inflation after three decades of stagflation. As Prime Minster Fumio Kishida declared in his speech to the Economic Club of New York this September: “Japan’s economic indicators during the past year are at levels not seen in 30 years: Our nominal GDP annual growth rate was 11.4%, making it the highest among major developed countries; domestic investment is forecast to surpass 100…

According to the IMF report published in July, Japan’s economy will grow by 1.4% in 2023, fueled by pent-up demand, supply chain improvements, and policy support as the country seeks to strengthen its recovery from the COVID-19 pandemic. Since lifting border control measures for overseas travelers in May 2023, Japan has seen a significant rebound in its tourism industry. In August, tourism levels reached 85.6% of the pre-pandemic figures, as reported by the Japan National Organization, marking the first time they surpassed the 80% threshold since the onset of the pandemic. Japan’s maritime strength is central to its position as the world’s third-largest economy. Over 99% of Japan’s foreign trade occurs by sea, as per Statista, with the high demand leading to one of the most sophisticated maritime transportation industries…

Fuelled by a rise in car exports and inbound tourism, Japan’s economy grew an annualised 6.0% in April-June this year, according to government data, equivalent to a quarterly gain of 1.5% – almost double Reuters’ forecast of 0.8%. The expansion was the fastest since the final quarter of 2020, and businesses have responded with confidence and optimism. According to a recent survey by the Japan External Trade Organization (JETRO), more than half of all major companies approached stated they would “strengthen/expand” their future business development in Japan, citing “the potential to acquire new customers” as their most important reason besides the government’s promotion of digital transformation and carbon neutrality. By 2035, Japan aims for all new cars sold to be environmentally friendly. Environmentally friendly vehicles in Japan fall under two…

“A leading contributor to Asia Pacific’s rise into global prominence”, Japan has helped the region become “a global production powerhouse” with its focus on product design and higher value-added manufacturing, according to global professional services company PWC. Highlighting the country’s long-term investments in industry, infrastructure and technology, PWC notes that the country has “significantly enhanced human development levels” alongside its economic development. This in turn has led to a high-income and quality-conscious consumer market, PWC says. This market is large and growing strongly – retail sales grew 5.3% in the year to June 2023, according to official figures. This is a boon for sophisticated consumer businesses like Belluna. The company started as a catalogue shopping company focusing on apparel and other goods, but has expanded considerably. It now has eight…

Japan, the third-largest economy globally, boasts a sizable, affluent market of 125 million individuals. In 2021, Japan’s medical costs impressively reached $329 billion, as noted by the government trade body, JETRO. Health expenditure represents nearly 11% of GDP, according to the World Bank. Spending is high and likely to climb due to the country’s aging population; nearly 30% of Japanese citizens are aged 65 or over. It is perhaps the country’s most pressing social issue. ELAN Corporation, a leading nursing care service provider, adeptly navigates these challenges by offering specialized products and services tailored for patients within the healthcare ecosystem. “Our strategy centers on converting individual challenges into viable business opportunities,” remarks Hideharu Sakurai, the President of ELAN Corporation. “Through this journey, we offer services that genuinely touch our clients,…

In a country that has experienced some of the worst natural disasters in modern history, Japanese businesses have become masters of resiliency. According to a 2020 survey by Nikkei BP Consulting, Japan is home to more than 33,000 ‘shinise’ companies – businesses over 100 years old – and 1,340 companies with a 200-year history, representing 41.3% and 65.0%, respectively, of the world’s total. Besides a well-drilled focus on long-term, sustainable growth – which embraces the need to pivot and diversify – Japanese businesses place great cultural emphasis on values such as family business, community, and tradition. Given the longevity of Japanese businesses, fierce competition within industries is the norm. This is especially true for the logistics sector. Japan ranked 13th on the 2023 World Bank’s Logistic Performance Index, and customers…

Japan stands as the second-largest economy in Asia and ranks third globally, cementing its role as a major force in the financial world. The Tokyo Stock Exchange further underscores this dominance as the fourth-largest in the world by market capitalization, as noted by the financial services firm, Refinitiv. Under the leadership of Japanese Prime Minister Fumio Kishida, there’s a heightened commitment to advancing the country’s capital markets. This commitment was evident in September 2023 when he actively participated in “Japan Weeks.” This series of events, orchestrated by the Financial Services Agency, was a clarion call to promote capital markets. The gatherings served as a platform for domestic and foreign investors, emphasizing the importance of proactive asset-building. Ichiyoshi Securities stands prominently in this rapidly evolving sector, distinguishing itself with an innovative…

According to a September 2023 government report, Japan’s robust economic recovery has generated a promising pickup in capital spending and private consumption – which accounts for over half the economy – and boosted corporate profits. Keen to reassert its electronics dominance on the world stage, Japan plans to triple the sales of chips made in the country to JPY 15 trillion by 2030. Promisingly, in 2022, Japan’s electronics industry registered an 11.7% year-over-year rise in exports to JPY 12.52 trillion, according to Statista. Founded in 1952, Takachiho Koheki is a leading technology trader and services provider specializing in cutting-edge electronics for domestic and overseas markets. By integrating product sales and added-value services, Takachiho Koheki has achieved astronomical growth in recent years, as its president, Takanobu Ide, explains: “Since I became…

Strong consumer demand backed by a robust labour market have bolstered Japan’s growth in 2023, according to a recent briefing by global professional services company Deloitte. The manufacturing sector is also picking up, showing its strongest growth in a year in both output and new orders in May 2023. Japan has long been renowned for its world-leading innovative manufacturing companies, and Benda Kogyo is a stand-out example. Founded in 1964 by Kazuyoshi Yashiro, the current company president Kazunari Yashiro’s grandfather, in 1975 the company received patents for “the Benda Method” for cold-bending steel. This enables 95% material yield, and dramatically raises processability and productivity. The company’s technology gives it a unique edge in supplying the fast-evolving global automotive industry. “We can provide high quality products for combustion, hybrid, and electric…

Japan has among the world’s highest World Bank Governance Indicators (WBGI), which measure the quality of government, as ratings agency Fitch noted in a recent ratings action on the country. As Fitch says, the strong WBGI reflects a “long record of stable and peaceful political transitions, well-established rights for participation in the political process, strong institutional capacity, effective rule of law, and a low level of corruption”. This environment has allowed the world-leading service sector to flourish, contributing 70% of GDP. Business services specifically are a major employer and magnet for investment – ranking in the top three sectors for greenfield foreign direct investments in 2021, according to official figures. Creek & River stands out as one of Japan’s most innovative business services companies. They specialize in recruiting networks of…

Can you learn to be an entrepreneur? It’s a common question in entrepreneurship circles. After all, an entrepreneur is a little of everything—a visionary, hustler, builder, and boss. Can you learn that stuff in a classroom? The answer is yes and no: You don’t have to go to school for it, but doing so can help accelerate your growth and provide you with the fundamentals for entrepreneurial success. Not all elements of entrepreneurship can be found in a book, of course, which is why the best colleges and universities have robust programs that support students’ startups and help build the kind of networks that last a lifetime. So which are the best schools? Entrepreneur has partnered with The Princeton Review for 18 years to answer that question—ranking the top undergraduate…

Parents continue to place a priority on their children’s education and on helping them get ahead and stay ahead in school. All of that adds up to ample opportunity for franchises that offer tutoring, test prep, and other educational services. Best Brains Learning Centers Learning centers TOTAL UNITS (Franchised / Co.-Owned) 150/1 STARTUP COST $31K-$118.4K Club Z! In-Home Tutoring Services In-home tutoring TOTAL UNITS (Franchised / Co.-Owned) 357/0 STARTUP COST $33.5K-$57.4K Gideon Math & Reading After-school math and reading programs TOTAL UNITS (Franchised / Co.-Owned) 19/1 STARTUP COST $122.5K-$225.5K Huntington Learning Center Tutoring and test prep TOTAL UNITS (Franchised / Co.-Owned) 276/10 STARTUP COST $154.1K-$264K JEI Learning Center Individualized supplemental education TOTAL UNITS (Franchised / Co.-Owned) 163/252 STARTUP COST $60K-$110.5K Kumon Supplemental education TOTAL UNITS (Franchised / Co.-Owned) 26,205/39 STARTUP…

My team was two weeks away from hosting a big event. There was a lot left to do. But my boss, Lisa, had just learned of a more imminent big event: a midday Mets game, where one pitcher had the rare chance to win his 20th game. “We have to go,” she said. I was skeptical. It hardly felt like an ideal time for an afternoon adventure! But Lisa insisted that we could tackle the work later, because this Mets game would only happen once. She got tickets for herself, me, and a junior team member. When that pitcher secured his win, the three of us were there. And weeks later, when we hosted our successful company event, all was well—with nothing sacrificed from our outing. This experience underscored a…