JAPAN may be too scared of failure to succeed

Some of the world's most recognized companies were born in Japan; Toyota, Sony or Mitsubishi are just a few Japanese companies that are characterized by the quality and durability of their products. But if there is something that stands out in many Japanese companies is their longevity. For example, Mitsubishi is 153 years old and it is said that there are more than 50,000 companies in the country that are more than 100 years old, some are even more than 1,000 years old. From this, we might think that the Japanese are constantly trying to create the next Sony or that there is an environment that promotes entrepreneurship. However, Japan has very low entrepreneurship indicators, even compared to high-income countries. According to the 2019 Global Entrepreneurship Monitor, in Japan, the percentage of people who were early-stage entrepreneurs was only 3.3%, ranking the country 45th among the 50 countries evaluated. And the percentage of Japanese who already owned a business for more than 3 months was only 2.1%, ranking 47th among the 50 countries.
So the questions are: why does Japan have so few entrepreneurs? If Japan has no entrepreneurial culture, how did such large and well-known companies come into creation? And how can new immigrants change that pattern?
Sources of interest:
- Global Entrepreneurship Monitor:
www.gemconsortium.org/report/...
- Honjo, J. (2015) Why are entrepreneurship levels so low in Japan?
www.sciencedirect.com/science...
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