Saturday, October 1, 2011

9/24/2011 Small Businesses in Disaster Areas Pin Hopes on "Social Fund"

Source: Japan 7 Days
Date: Saturday September 24, 2011
by: Minori Takao


A new business model called the "social fund" is giving hope to businesses in the areas afflicted by the March earthquake and tsunami. The approach allows anyone who wants to help a organization revive itself get the process going by contributing funds. As little as 10,000 yen ($130) is acceptable.

More than 40,000 small and midsize firms in the three hardest-hit prefectures are thought to have suffered damage. Many of them have been unable to take out new bank loans because of existing debts for previous purchases. The "social fund" could be their last resort.

No comments:

Post a Comment