Business Aggression for Business Progression
Back in the 90s, Japanese families migrated to London in the hopes to start businesses due to an advantage they had over British entrepreneurs: business aggression. While the cards have shifted slightly and the Brits have proved they have what it takes to start businesses in their own country, it continues to be true that Japan is a world leader when it comes to the business industry. Automobile giants like Toyota or Suzuki have successfully settled in the UK. Mitsubishi Financial Groups have also made a name abroad. There is an endless list of companies from the Pacific island that have grown worldwide with nobody’s help but their own.
So, why are Japanese fintech startups turning to London now? One often thinks of Japan as a leader in technology, which it is, but their fintech industry is lagging behind the UK’s for at least a couple of years. Their conservative culture is an obstacle to overcome, which is why Britain’s open and equal scene full of opportunities and greater competition is catching the eye of Japanese entrepreneurs. With the help of the Japanese Chamber of Commerce & Industry in the UK, startups have a greater advantage when starting their businesses in London. The dynamic environment of Britain’s fintech sector and the great amount of backup organisations that work with the governments is attracting more and more foreigners to look to London to invest.
Additionally, the UK Trade & Investment sector works with Japan to select Japanese startups and bring them to London. The winners receive complimentary visit to TechCity - the biggest startup hub in London, residency at The Bakery, as well as the necessary exposure to investors, funding and crowdfunding.