The Ministry of International Trade and Industry will draw up measures to help nurture small firms and venture businesses ahead of the upcoming extraordinary Diet session this fall, MITI chief Kaoru Yosano said Tuesday.
Prime Minister Keizo Obuchi issued instructions for the measures during a meeting with Yosano, Katsuhiko Tokita, director general of the Small and Medium Enterprise Agency, and senior MITI officials, Yosano said.
During the 25-minute meeting, Obuchi reiterated his intention to convene the extraordinary Diet session for the sake of promoting small firms and venture businesses.
While citing the target of doubling the number of business startups within five years, Obuchi urged Yosano and the others to set clear goals, taking into account the government's policy of concentrating resources on creating new businesses over the next few years until the economy is functioning autonomously.
On business ventures, Obuchi asked Yosano and the others to come up with drastic measures for providing risk capital, beefing up support for management, technology and workers, improving taxation and motivating the spirit of entrepreneurs.
On the planned revision of the 1963 Small and Medium Enterprise Basic Law, Obuchi said the law must be revised to support self-help efforts by competent small firms and lead to the creation of industries and job opportunities, rather than helping small companies as a whole, as before.
Obuchi said a broader range of companies, including those in the service sector, should be categorized as small firms under the revised law.