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Complete 5 page APA formatted essay: The differences of entrepreneurship in China and Japan.es is China. consequently, many American firms have set up their manufacturing firm there in order to take a
Complete 5 page APA formatted essay: The differences of entrepreneurship in China and Japan.
es is China. consequently, many American firms have set up their manufacturing firm there in order to take advantage of not only the low taxes but also the comparatively cheap labor. Considering this, one can identify a significant difference between the costs of doing business in China verses Japan. The tax rates in China is at 25 percent, which is one of the lowest in Asia, with some parts of China such as the Taiwan province where taxes are as low as 16 percent. As such, entrepreneurs do not have to pay much in taxes, and this encourages more people to invest therein, whether they are locals, or foreigners. In sharp contrast, Japan has the highest tax rate among the countries in the region, standing at approximately 40 percent (EU-Japan Centre for Industrial Cooperation, 2011). This is almost as high as that the United States being the second highest in the OECD member states after the USA. This inevitably has made it more difficult for small business to take off in Japan unlike in China, and the international firms are more likely to choose Japan over China in an effort to cut costs. A decisive way in which the difference between Chinese and Japanese entrepreneurship can be differentiated is in their corporate cultures, the Japanese leverage their corporate culture with the intention of producing high quality products and services, by patiently building their global reputations on diligence and quality. When a Japanese firm employs someone, it is done under the assumption that the person will stay with the firm indefinitely and they take loyalty extremely seriously as opposed to the bottom line. For instance, a firm in Japan is expected to make decisions that will allow the firm to avoid laying off workers even in times of crisis.
