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Probably the most westernized nation in Asia, Japan brings to mind images of exotic temples, sushi, cars, and ultra modern gadgets. It has managed the perfect balancing between preserving and adopting, the Western business ethic into its cultural and historical fabric. The well known impact of the strong Japanese work ethic and an unwavering dedication to productivity can be recognized instantly through the number of vast number of Japanese brands in our own markets. Japan’s economy is deemed as the second largest and successful in the world, and has openings right from construction and media to food and fashion to healthcare and telecommunications.

Japan’s economic climate

Japan has the world’s second largest economy by nominal GDP. It has a large industrial capacity and is home to some of the world’s largest and most technologically advanced producers of electronic equipment, machine tools, metals, ships, motor vehicles, chemicals, textiles and processed foods. Enterprises can create a lucrative presence in the country, and those with existing Japanese customers can strengthen their client relationships. The deficit of foreign investment has been recognized by the government and consequently become more supportive of overseas investors interested in expanding business overseas.

Business opportunities in Japan

Being the world’s largest producer of cars with nearly 20 million cars produced, Japan has the largest market for automotive parts, technology and expertise. It also has a vibrant market with the continuing developments of information technology, like digital media. A turnover of US$1,124 billion turnover last year has made Japan home to the world’s second largest consumer market. Known for its profile and influence in other markets, particularly in Asia, Japan is regarded as an indicator of future trends. It offers an enormous range of possibilities, as there are numerous avenues to explore. The country’s economy has a huge variety of openings for potential investors interested in setting up right from fashion to healthcare.
Strategizing your market entry

Researching the Japanese market and identify the best potential customers, locations, sales leads and channels is important. It is never good to underestimate the temperament of a market. By carefully chalking out a strategy you can identify your competitors and work out a way to have an advantage over them. Getting worthwhile assistance is the key to progress here.

Before setting out on doing business overseas it is absolutely imperative for an entrepreneur to do their homework. Before embarking on a business venture in Japan, it is vital to prepare properly. It is advisable to employ people, with strong finance and management skills and a good understanding of the Japanese language. By employing a professional advisor, you can get hassle free advice on local business practices, international accounting, tax regulations and many more.