Approximately 20% of Female Business Owners Experience 'Sudden Succession'

The 'Business Succession Station for Women,' sponsored by NN Life Insurance, which supports Japanese SMEs through life insurance, has released the results of a 'Survey on Business Succession' conducted jointly with Professor Yoshihiro Asai of Meiji University's School of Commerce. The survey revealed that approximately 20% of female business owners took over their businesses due to the sudden death of their predecessor, and there is a clear gender difference in when they feel support is most needed. When asked for the reason for deciding on succession, 22.7% of women cited 'the sudden death of the previous president and lack of a successor,' compared to 13.4% of men. Additionally, 20.2% of women cited 'the previous president's illness or family circumstances,' compared to 8.0% of men. For women, the most critical time for support was 'when sudden succession was decided' (23.8%). Professor Asai pointed out that sudden succession can negatively impact business performance, making policies that encourage preparation essential. NN Life Insurance continues to provide comprehensive support through initiatives like operating communities for female business owners.