Oldest Companies in the World

The Business World

In today's world, businesses have significantly shorter lifespans compared to 50 years ago. According to research by the Boston Consulting Group, approximately 10% of operating companies close each year.

Ari De Geus, a former regional manager for Africa and South Asia at Shell, stated in his publication "The Living Company" that current companies have an average lifespan of around 12.5 years. However, companies that make it into the Fortune 500 list, ranking the world's companies by revenue, tend to survive for 40 to 50 years.

Among the positive aspects, in 2015, there were 967 companies founded before the 18th century, distributed as follows:

• 517 companies are located in Japan;
• 19% of all companies operate in Germany;
• and not more than 5% in each developed country.

The Secret of Longevity

No company is immune to bankruptcy. Why are companies increasingly failing in recent years? Ari De Geus provides an answer in his book. He points out that modern businessmen and managers, in their pursuit of revenue growth, often overlook the most crucial element – their people.

The key principle for a company's longevity is its treatment of employees. In Japan, leadership of long-lived companies often passes down through generations within a single family.

Others acknowledge the longevity of Japanese companies. For instance, Denis Shcherbakov, Deputy Head of the School of Asian Studies at the National Research University Higher School of Economics, believes that the longevity of Japanese companies is influenced by factors such as:

• isolationism;
• a unique entrepreneurial environment;
• governmental policies supporting small and medium enterprises.

Top Long-Lived Companies

Let's introduce you to the 10 oldest companies in the world.

1. Nisiyama Onsen Keiunkan – Established in 705 AD

In 705 AD, Fujiwara Mahito founded an inn at the hot springs of Hayakawa. The inn, owned by Mahito's descendants, continues operating to this day, making it the oldest company globally and earning a place in the Guinness World Records.

2. Koman – Established in 717 AD

Another Japanese inn ranks second. During its construction, workers discovered thermal springs, leading the Hyuga family to build their hotel nearby.

3. Hōshi Ryokan – Established in 718 AD

Yet another Japanese inn, located in Komatsu, is run by the Hoshi family. The current owner bears the same name as the founder, Zengoro.

4. Tech Kaihatsu – Established in 760 AD

Tech Kaihatsu specializes in machinery equipment and started as a mere forge, according to the company's owners.

5. Genda Shigyo – Established in 771 AD

Genda Shigyo has been producing paper bags and colorful ribbons called "mizuhiki" for weddings, funerals, and other events for a millennium.

6. Stiftskeller St. Peter – Established in 803 AD

Located in Salzburg, Austria, Stiftskeller St. Peter is Europe's oldest company, retaining a medieval atmosphere.

7. Staffelter Hof – Established in 862 AD

Staffelter Hof, a family-run winery in Kröv, Germany, is the world's oldest winery. Documents in the city's archives prove the winery's operation in 862 AD, with a true factory established in 1890.

8. Tanaka-Iga – Established in 885 AD

Hailing from Kyoto, Japan, Tanaka-Iga dominates the ceremonial items market for Buddhist temples. Its longevity is attributed to customer loyalty. Its main rival, Shumiya-Shinbutsuguten, also with a long history, has been operating since 1024 AD.

9. Sean's Bar – Established in 900 AD

Known as the oldest bar in the world, Sean's Bar in Ireland boasts an ideal location in Athlone, attracting famous patrons like U2 musicians and politicians. Its historical artifacts and Guinness World Records certificate adorn its walls.

10. The Bingley Arms – Established in 953 AD

Despite the decline in English pubs, establishments like The Bingley Arms in Bardsey remain integral to the country's cultural heritage. This pub, dating back to the Viking era, was known as a haven for wandering monks.

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