Economic uncertainties and the collapse of the market has been the order of the 21st century ever since the market emphasized on putting a value on paper money. However, economic turmoil comes along with its pros and cons depending on the commercial culture of where a business is located. For most startups in the East in countries such as Japan, economic turmoil is an opportunity to create sustainable businesses. According to William H. Saito who serves as special advisor to the Prime Minister of the government of Japan, startups in the country use the opportunity of a turmoil to create successful businesses.
The economic culture in Japan has the habit of adapting to the prevailing economic, and most entrepreneurs do not believe in failing. In the West, however, as William H. Saito states, he is of the opinion that most startups fail during an economic turmoil to get back up again. Mr. Saito vehemently argues that during an economic burst, there isn’t much access to capital. Most startups in Japan and most countries of the East get toned budget management that comes in and when the market is stable. William H. Saito states that during an economic bubble, there is better access to capital and many startups that fail are likely to access more capital and launch other startups.
Despite the initial hurdles that most startups have to overcome in Japan, most of them remain solvent even in the event of an economic crisis. William H. Saito is among the most influential people in Japan and is a renowned figure. William Saito serves as an advisor to the cabinet office and has also worked with Palo Alto Networks as the Vice Chairman. William’s biography is an interesting one as he began programming at a tender age and owned a company by the time he was in high school. In 1998, William Saito was recognized as the Entrepreneur of the year by three organizations, and these included USA Today, NASDAQ and Ernst & Young. On the matters of cybersecurity, Mr. Saito is recognized as among the Titans and is proud to be associated with such authority. Also, Mr. Saito has a membership on the Foundation Board and works for hand in hand with World Economic Forum. Their primary objective is to provide insight and advisory services to national governments. John Wiley & Sons published an autobiography about William Saito named “An Programmed Life: Adventures of an Incurable Entrepreneur.”