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Risks of Doing Business in Japan

This suggests that leaders must constantly monitor and manage macroeconomic risks while seeking innovative solutions internally to become more agile in the face of rapid and unexpected changes. In the context of Japan, the focus must be on responding to and adapting to new technologies, not only to increase dependence on potential operational risks – such as cyberattacks – but also to improve the competitiveness of companies. However, this process relies on a strengthened workforce, which should be made possible by comprehensive workplace culture reforms and innovative plans for retirement, savings and health care. The challenges of technology and talent integration are expected to be top priorities for Japanese leaders in 2019. Japan Chamber of Commerce and Industry in the UK A forum for businessmen to network and promote best practices, trade and investment between the UK and Japan. Business activities in. Bloomberg BNA provides expert advice on the tax aspects of expanding and operating businesses abroad. This article is the second in a series of articles designed to provide a nuanced analysis of the risk profiles of five countries in the Asia-Pacific region and help business leaders understand the region`s diverse risk environment. These articles complement the 2019 Global Risk Report, produced by the World Economic Forum in collaboration with Marsh McLennan and Zurich Insurance Group, which will be released on January 16. IHS leverages the deepest sources of information, analysis and expertise to develop solutions for industries and markets that drive the global economy.

IHS works with leaders in business, finance and government to gain insights that enable their clients to be more efficient and make more informed decisions to secure their future. We have partnered with IHS to leverage this data analytics and make it available to our customers. The contents of this document are provided for informational purposes only for general information. Businesses and individuals should not rely solely on the information or suggestions contained in this article to prevent or mitigate the risks described in this article. Japan`s public debt, the largest in the world, currently stands at more than 245% of GDP. The consumption tax is expected to increase from the current 8% to 10% in October 2019, after rising from 5% to 8% in 2014. Progress has been made on structural reforms, in particular energy market liberalization, agricultural cooperatives and enterprise management. In retrospect, Abenomics has managed to stabilize the Japanese economy, but has so far failed to meet its headline inflation target of 2%. With Prime Minister Abe set to remain in office until 2021, foundations are expected to remain a policy, although it is now more of a status quo than a high-profile initiative.

The Japanese economy is eager to do its part in the recovery and is eager to trade with Britain and other countries. We have organised several major UK trade missions to Tokyo and Osaka in recent months, and the number of UK companies seeking our support to enter the Japanese market since the summer is actually higher than at the same time last year. Please read the FCDO Travel Report for the latest information on risks and precautions. The Centre for National Infrastructure Protection also advises companies in the area of protection security. If your business needs referrals to law firms or other professional services firms, Austrade is well placed to help you with your particular situation. Giving a gift at a business meeting is traditional and recommended. It is recommended that you provide something that all employees can share when giving a gift, such as snacks or office supplies. Most trade shows are held annually, so check out the next trade show that applies to your business.

Due to recent reforms that have stimulated the economy, put on growth and relaxed government regulations, Japan offers huge opportunities for all types of foreign investors. With an extremely low unemployment rate, the Japanese workforce is ready and available to help your business reach the next level. Despite all the promises, doing business in Japan is not without its challenges. So it`s a good time for UK companies to enter or explore the Japanese market further. Japanese companies are looking for support to deal with the major challenges of the disaster and its aftermath. There are therefore a number of opportunities for UK companies with particular expertise in areas such as: IT, low carbon technologies, power generation, nuclear decommissioning, business continuity and life sciences/healthcare. Australian companies are advised to spend time researching the market, seeking professional advice when necessary and resolving market entry issues and prior to establishing business relationships. to investigate thoroughly. Corruption is illegal. It is a criminal offence for UK nationals or any person ordinarily resident in the UK to bribe a registered body or partnership registered in the UK anywhere in the world.