A massive initiative to find 1,000 successors for struggling businesses in Okayama Prefecture has so far identified only 7 candidates, raising concerns about the region's ability to sustain its small and medium enterprises. The project, led by Setouchi Startup Flag, aims to match potential successors with companies lacking heirs, but the low number highlights a critical gap.
"There are only 7 successor companies in Okayama so far, but we're searching for 1,000," said a representative.
The program, featured in Forbes JAPAN's June issue, invites entrepreneurs and successors from the Setouchi region to share their stories and seek advice. It includes segments like "Ask Kubo Shunki!" where experts warn young entrepreneurs about common mistakes, and "Ask Setouchi VC!" where venture capitalists offer growth strategies.
With many local businesses facing closure due to aging owners and no successors, the initiative is a race against time. Setouchi VC is not only providing mentorship but also considering direct investment in promising match-ups.