Japan pushing heirless companies to sell, not close
Japan is taking steps to help aging business owners find buyers for their companies rather than shut them down for lack of suitable successors. By doing so, it seeks to protect jobs and economic value as the population ages and shrinks. The country has 2.45 million small and midsize businesses run by those at or over the average retirement age of 70, roughly half of which are without successors. An even larger number are run by those aged 65 to 69. Around 28,000 businesses closed their doors in 2017, according to Tokyo Shoko Research -- a 30% increase in 10 years.