Theoretical and Empirical Study for Development of Venture Business -Utilization of Local agricultural products for local fermentation industry-

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This study aimed to establish venture business management theory of agribusiness development mechanism of enterprises from the viewpoint of management theory by means of empirical studies.In the fermentation industry which is considered mature industry, new entry of microbreweries have developed in nationwide with the deregulation of the Liquor Tax and the improvement of condition. Microbreweries show various stage of development. Management entities of microbreweries are various local enterprises and third-sector companies. Local microbreweries affect regional economy because they are using local capital, local employee and local agricultural products directly. Traditional fermentation industry also has same structure. Therefore review of traditional fermentation industry is effective to understand relationship with local economy especially local agriculture. Distilled spirit (shochu) manufacturing companies have established demand and supply system of local agricultural products such … More as wheat, buckwheat and sweet potato as materials of manufacturing. It shows the possibility of establishment of regional economic complex through activities of microbreweries.Legislative preparations for surrounding of microbrewery and maintenance of small and medium-sized enterprises in industrial policy are inadequate ; we mentioned the necessity of the policy action for the development of the small and medium-sized enterprise to be realized together on the revision of the Liquor Tax Law. Especially, it is pointed out from the result of the interview and the questionnaire that abolishment of the liquor retailer license liberalization of 2003 should have been implemented earlier. Moreover, considerable initial investment is necessary for establishment of microbrewery because of manufacturing equipment. Generally, enterprises which invested a large sum of capital as the first investment are situated in severe management condition. There are various problems, for example, in a half of microbreweries the amount of production doesn't reach the quantity to take permission of brewing license. It means that these companies amount of production have decreased after permitted brewing.Some enterprises that enter from the fermentation industry in early-started group have withdrawn. Therefore financial management, planning sales and profit and the redemption of borrowings are necessary for microbrewery administration together with marketing strategy to sell 60kl which is quantity of minimum production.Quantity of production of local microbrewery has been declining from the peak, but some microbreweries are doing well by using various resources actively. For example, companies utilize advantage of location as a tourist point, and are providing beer to tourists. Other companies have built the relationship with research institutes to get new materials and production technology. And other ones made relations to other companies to produce OEM products. Less