廃業

• Reading: はいぎょう
• Romaji: haigyo
• Kanji breakdown: 廃 (hai) — to abolish, discard; 業 (gyo) — business, trade
• Pronunciation: /ha.i.ɡʲo.ː/

Meaning

Going out of business; closing down; ceasing operations. The permanent cessation of a business or professional practice.

A noun and suru-verb meaning to shut down a business permanently. Distinct from 倒産 (tosan, bankruptcy), which involves insolvency; 廃業 can be voluntary and orderly. Common scenarios include an ageing proprietor with no successor (後継者不足), market unviability, or a professional retiring. Japan faces a widespread 廃業 risk among small and medium enterprises due to successor shortages — a major policy concern.

Examples

1. 後継者が見つからないまま、創業七十年の町工場がついに廃業した。 Unable to find a successor, a town factory that had been in business for seventy years finally closed down.
2. 廃業を決めた理由を問われ、体力の限界だと静かに答えた。 Asked why he had decided to close, he answered quietly that he had reached his physical limits.
3. 廃業支援制度を利用することで、資産の整理や手続きが円滑に進む。 By using the business closure support programme, the process of settling assets and handling formalities can proceed smoothly.

Usage Guide

Context: small business, economics, retirement

Tone: serious

Origin & History

From 廃 (hai) meaning 'to abolish, to discard' and 業 (gyo) meaning 'business, trade.' The compound directly describes discarding or ending a business enterprise.

Cultural Context

Era: Modern

Generation: Small business owners

Social background: Small and medium enterprise