What is the best business to start in Japan?

Japan is one of the most developed free-market economies in the world. As per the last World Bank ratings, Japan is ranked 29 among 190 economies in the ease of doing business. The average Japanese has a considerable purchasing capacity. Japan happens to be the third-largest economy in the world after the USA and China. Japan’s per capita GDP (PPP) was at $38,937 in the year 2016 as per data published by the International Monetary Fund. Most people in Japan have high levels of disposable income. As a result, they are more interested in buying high-valued and premium products. One of the biggest advantages of doing business in Japan is the ease of launching a company. It takes no more than 14 days to start a company here in this part of the world. The country has a highly developed integrated infrastructure of roadways, railways, airports, sea harbors, warehouses, and communication facilities. This helps companies in creating a robust distribution mechanism for the delivery of goods and services. The major industries in Japan are automotive, electronic equipment, machine tools, steel, nonferrous metals, ships, chemicals, textiles, and processed foods. As a matter of fact, Japan is the third-largest automobile manufacturer in the world.

The Japanese startup ecosystem is really evolving. Japan has some incredibly successful startups. Their market size is growing, they have a big entrepreneurial talent pool and the role of the government and large corporations is increasing. They have seen a number of exciting developments in their venture ecosystem during the past decade and the second biggest IT market in the world.

Here is a selected list of best unique businesses to start in Japan with low or no investment:

1. Start a Translation Agency

Since Japan is an economically developed country, people all across the world visit for business reasons. Another reason is the presence of exquisite tourist destinations in the country. There is always a good demand for translators for the communication needs of foreigners.

2. English Language School in Japan

Nowadays, more and more Japanese people want to learn English. Teaching certification, such as TEFL along with a Bachelor’s degree is preferred. The average hourly rate for teaching English is around ¥3000. It is one of the most popular business ideas in Japan, especially for foreigners.

3. Start a Restaurant

Japanese people are food lovers. Recent studies show people here are more and more showing interest in foreign cuisines. If you live in cities like Osaka, Kansai, and Tokyo, opening a restaurant can fetch you high returns.

4. Start an Import-Export Business in Japan

The top items that are exported from Japan are petroleum, liquid natural gas, clothing, semiconductors, coal, and audio and visual apparatus. China, the United States, Australia, and Saudi Arabia are the four biggest import partners in Japan. If you have some experience in the trade, import-export business in Japan can be hugely profitable.

5. Start an IT Business in Japan

The IT industry in Japan plays a key role in overall global economic growth. Though the market is highly competitive; still, there are still wide scopes for people with new concepts and innovations. However, to be successful you must be backed up by sufficient financial resources to launch a successful IT company in Japan.