The Oldest Businesses in the World Share Their Secrets
12/20/2023 08:39
What does it take to stay open for the long haul—and not just for a few generations, but hundreds if not thousands of years?
The average American business closes shop after about 21 years. (Spare a thought for those enterprises in the back half of the bell curve, which never reach the legal drinking age.) Some businesses, though, last longer—a lot longer. Take Kongo Gumi, a Japanese construction company founded in 578 A.D., or Santa Maria Novella, an Italian pharmacy that’s been perfuming the elite since Michelangelo was decorating ceilings. Here are some longevity lessons from businesses with more than ample experience.
Kongo Gumi Co., est. 578
The Lesson: Find a niche and don’t let go