Where Are the Oldest Companies in Existence?
View the high resolution version of this infographic by clicking here.
In just a few decades, it’s possible that some of today’s most recognized companies may no longer be household names.
Corporate longevity, or the average lifespan of a company, has been shrinking dramatically.
In the 1960s, a typical S&P 500 company was projected to last for more than 60 years. However, with the rapidly transforming business landscape today, it’s down to just 18 years.
The Companies With the Strongest Staying Power
Even with companies skewing younger, there are always exceptions to the rule.
Luckily, many companies around the world have stood the test of time, and today’s detailed map from Business Financing highlights the oldest company in existence in each country.
For centuries, here are the world’s oldest corporations which have made their mark:
|578||Kongō Gumi Co., Ltd.||Japan||Construction|
|803||St. Peter Stifts Kulinarium||Austria||Service Industry (Restaurant)|
|862||Staffelter Hof||Germany||Distillers, Vintners, & Breweries (Winery)|
|864||Monnaie de Paris||France||Manufacturing & Production (Mint)|
|886||The Royal Mint||England||Manufacturing & Production (Mint)|
|900||Sean’s Bar||Ireland||Service Industry (Pub)|
|1040||Pontificia Fonderia Marinelli||Italy||Manufacturing & Production (Bell foundry)|
|1074||Affligem Brewery||Belgium||Distillers, Vintners, & Breweries|
|1135||Munke Mølle||Denmark||Manufacturing & Production (Flour Mill)|
|1153||Ma Yu Ching’s Bucket Chicken House||China||Service Industry (Restaurant)|
Whether they were born out of necessity to support a rapidly growing population—requiring new infrastructure and more money circulation—or simply to satisfy peoples’ thirst for alcohol or hunger for fried chicken, these companies continue to play a lasting role.
The Oldest Company in Every Country, by Region
Let’s dive into the regional maps, which paint a different picture for each continent.
In the following maps, countries are color-coded based on the major industry that the oldest company falls under:
- Primary: Natural resources
- Secondary: Manufacturing and processing
- Tertiary: Services and distribution
- Quaternary: Knowledge and information
Notes on Methodology:
This research considers both state-run and independent businesses in their definitions. For countries where data was hard to pin down, they have been grayed out.
As well, since many countries have a relatively new inception, present-day names and borders have been used. The map does not factor in older companies that are no longer in operation, or if it was unclear whether they were still open.
Click here to explore the full research methodology.
Mexico’s La Casa de Moneda de México (founded 1534) is the oldest company across North America, and the first mint of America. Owned by the Spanish conquistador Hernán Cortés, it was where the famous ‘pieces of eight’, or Spanish dollars were created.
In the U.S., the Shirley Plantation in Virginia is an ongoing reminder of the history of slavery. First founded in 1613, business actually began in 1638—and as many as 90 slaves were under indentured labor on the estate growing tobacco.
Further north, Canada’s Hudson’s Bay (founded 1670) was at the helm of the fur trade between European settlers and First Nations tribes—the two parties agreed on beaver pelts as a common, valuable trade standard.
Three of the five oldest companies in South America are mints—specifically in Brazil, Colombia, and Peru.
The oldest of these mints, Casa Nacional de Moneda in Peru, was built on order from Spain and established in 1565. After the great influx of newly-mined silver from America to Europe, the Spanish crown outlined to King Felipe II that building a mint would give the colony economic benefits and more control.
In total, 15 of Europe’s oldest companies are related to the food and beverage industries, from distilleries, vintners (winemaking), and breweries alongside restaurants and pubs. Austria’s St. Peter Stifts Kulinarium (founded in 803) is Europe’s oldest restaurant, located inside the St. Peter’s Abbey monastery.
Although Germany is famously known for its beer culture, its oldest company is in fact the Staffelter Hof Winery (founded in 862). Today, Germany is still a top wine country, with the industry generating up to $17 billion in revenue per year.
Asia has six oldest companies in the banking and finance category, as well as another six in the aviation and transport sector. The continent is also home to two of the world’s oldest companies, located in Japan and China.
The Japanese temple and shrine construction company, Kongō Gumi Co., Ltd. (founded in 578) has weathered a few storms over the millennia, from nuclear bombs to financial crises. In 2006, it was bought by the construction conglomerate, Takamatsu Construction Group Co., and continues to operate today.
In neighboring China, Ma Yu Ching’s Bucket Chicken House has endured dynasties of change as well. The company’s simple premise has come a long way, and it was named a cultural heritage in the country’s Henan Province.
Africa’s oldest companies are another vestige of the colonial legacy, with 11 transport companies—airlines, ports and shipping, and railways—and 9 postal services.
In fact, Cape Verde’s Correios de Cabo Verde (postal service, founded in 1849) and the DRC’s Société nationale des Chemins de fer du Congo (national railway company, founded in 1889) still go by their Portuguese and French names respectively.
Banking is another one of the oldest industries, with 17 companies across Africa. Zimbabwe’s Standard Chartered branch has been around since 1892, a subsidiary of its London-based parent company.
Australia officially became a country on January 1st, 1901—but its oldest company, the Australia Post (founded in 1809) precedes this by almost a century.
Interestingly, just one more old company could be located for this region, which is the Bank of New Zealand—one of the country’s Big Four banks.
All in all, these oldest companies paint a historical picture of the major industries which have shaped entire regions.
Did you recognize any on the list?
5 Big Picture Trends Being Accelerated by the Pandemic
In some cases, COVID-19 has sped up societal and economic trends that were already in motion. Here we examine five examples.
As every email introduction has reminded us in 2020, we’re living in “unprecedented times”.
No doubt, even after a viable vaccine is released to the general public and things begin to return to some semblance of normalcy, there will be long lasting effects on society and the economy. It’s been said that COVID-19 has hit fast forward on a number of trends, from e-commerce to workplace culture.
Today, we’ll highlight five of these accelerating trends.
#1: Screen Life Takes Hold
Smartphones have drastically altered many parts our lives – including how we spend time. In the decade from 2008 to 2018, screen time on mobile devices increased 12x.
Fast forward to today, and screen time is up across the board, with some of the most dramatic increases seen among kids and teenagers. 44% of people under the age of 18 now report four hours or more of screen time per day – up from 21% prior to the pandemic.
Gaming is another digital segment that has benefited from the pandemic. Video game revenue spiked in the springtime, and sales have remained strong going further into 2020. Companies are hoping that casual gamers won over during lockdown will continue playing once the pandemic has come to an end.
Acceleration signal: International bandwidth and internet traffic was already increasing steadily, but COVID-19 stay-at-home activity has blown away previous numbers.
Even as more workplaces and schools begin to operate normally again, it’s doubtful that screen time will drop back down to pre-COVID levels.
#2: The Big Consumer Shake-Up
The consumer economy has been innovating on two fronts: making physical buying as “frictionless” as possible, and making e-commerce as nimble as possible. COVID-19 broke old habits and sped up that evolution.
Innovations in real world shopping appear to be moving in the direction of cashierless checkouts, but in order for that model to work, people first need to embrace contactless payment methods such as mobile wallets and cards with tap payment.
So far, the pandemic has been an accelerant in moving people away from cash and pin-and-swipe credit cards in lagging markets. Once people get used to the convenience of contactless payments, it’s likely they’ll continue using those methods.
Of course, no conversation about e-commerce is complete without talking about Amazon. The company has seen consistent growth in subscription revenue in recent years, and the company’s actions have a wide-reaching effect on the rest of the industry.
Much like the gaming industry, e-commerce companies like Amazon are hoping that people who dabbled with online ordering during the pandemic months, will convert into lifelong customers.
Acceleration signal: E-commerce penetration projections have shifted upward.
In hindsight, 2020 could be an inflection point where e-commerce gained a much bigger slice of the overall retail pie.
#3: Peak Globalization
Globalization went on a tear starting from the mid-1980s until it hit a plateau during the financial crisis. Since that point, global trade as a percentage of GDP has flat-lined in the face of trade wars, and now COVID-19.
Trade was obviously impacted by the pandemic, and it’s too early to say what the long-term effects will be. One thing that is clear is that the information component of globalization is becoming an even more important piece of the world’s economic puzzle.
Even before COVID-19 took hold, the global services trade was growing 60% faster than the goods trade, and was valued at approximately $13.4 trillion in 2019.
Acceleration signal: The dip in merchandise trade looks eerily similar to the one that took place in 2008.
#4: The Wealth Chasm
On the high end of the wealth spectrum, billionaires are worth more than ever.
Meanwhile, in the broader economy, inequality has grown over the last few decades. Those in the top 50% wealth bracket have seen increasing gains, while the bottom 50% have seen stagnation.
This issue is sure to be compounded by economic turmoil brought on by COVID-19. Younger generations face the dual challenges of being more likely to be negatively impacted by the pandemic, while also being the least likely to have savings to cover an interruption in income.
In fact, nearly half of people in the 18–24 year old age group have nothing saved at all.
The longer the economy is affected by COVID-19 measures, the more of a wedge will be driven between people who have continued working and those who are employed in impacted industries (e.g. tourism, events).
Acceleration signal: Growth in the net worth of billionaires has been largely unaffected by COVID-19.
#5: The Flexible Workplace
As of 2019, over half of companies that didn’t have a flexible or remote workplace policy cited “longstanding company policy” as the reason. In other words, that is just the way things have always worked.
Of course, the pandemic has forced many companies to rethink these policies.
This grand experiment in remote work and distributed teams will have an impact on office life as we know it, potentially reshaping the entire “office economy”. The impact is already being felt, with global commercial property investment volume falling by 48% in Q3 2020.
Acceleration signal: Thousands of people are moving out of pricy urban areas, presumably because they are able to work remotely from a cheaper location.
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How Holiday Spending Compares Around the World
This graphic illustrates some of the largest and most anticipated retail holidays by region and explores their origins.
How Holiday Spending Compares Around the World
View the high-resolution of the infographic by clicking here.
While COVID-19 has triggered a tsunami of challenges for retailers the world over, they can take solace in knowing that retail events throughout the year can contribute to an uptick in sales.
But consumer spending for events like Back to School, Halloween, or Easter pales in comparison to what people spend between Thanksgiving and New Years—otherwise known as “the holidays”.
The graphic above explores holiday spending across the world, as well as some of the major events that contribute to it, based on MoEngage and AppFollow’s Holiday Marketing Guide.
Retail Events by Region
While Christmas is celebrated in some form across most parts of the world, U.S. consumers spend more than any other nation, with retailers raking in an estimated $1 trillion in sales in 2019.
As another major retail holiday, Black Friday originated in the U.S. but has since become a global phenomenon. In 2019, sales for the one day event reached a staggering $7.4 billion in the U.S. alone, but it was surpassed by Cyber Monday, which garnered a total of $9.4 billion in sales.
Over in India, holiday season spending in 2019 reached a total of $46 billion due to a number of events such as Amazon’s Great Indian Festival. Orders were placed during the event from over 99% of India’s postal codes, and on the busiest day, more than 600 flights delivered Amazon orders to customers.
In other parts of Asia, Alibaba’s Singles’ Day is quickly becoming a highly anticipated event attracting attention from consumers in other parts of the world. But while it recorded $38 billion in revenue in 2019, it was meager in comparison to Chinese New Year sales during the same year, which topped $149 billion—although it does not take place during the holiday months covered in this graphic.
2020 Trends Impacting Retailers
Despite many retailers banking on the success of these holiday events, they are up against some critical challenges due to the ongoing COVID-19 pandemic.
According to the report, consumers have become more cautious about their spending, due to economic uncertainty of their finances. In fact, personal savings rates in the U.S. reached a historic 33% in May of this year.
More Value-Conscious Buyers
It’s no surprise that consumers’ concerns about the economy and their job prospects are affecting how they spend their hard-earned cash. They are spending less on items that may be considered a luxury, and investing more on things that can add value to their lives day-to-day, like media and entertainment.
Reluctance to Shop In-Store
Tightening lockdown restrictions and social distancing have raised some questions around how much of a role brick and mortar stores will play this year for consumers. Interestingly, a study shows that 36% of shoppers now prefer shopping online, up from 28% before the pandemic.
Supply Chain Issues
COVID-19 has wreaked havoc on retail supply chains, resulting in a number of issues arising such as labor shortages and transport restrictions. This has put many retailers under tremendous pressure to reimagine how they can best serve their customers.
The Most Wonderful Time of the Year?
Holiday shopping in 2020 will be anything but typical. Businesses of all shapes and sizes are having to adjust to changing consumer behaviors to ensure they make it through to 2021 intact.
With tightening restrictions across the world, brick and mortar stores are becoming less of an option for millions of people, challenging retailers to focus efforts on their online experience.
Forrester predicts that total retail sales in North America will decline in 2020 overall, while online sales will increase by 18.5%—growth not seen since 2008.
Whether the reimagined supply chains of 2020 can keep up with more online demand is another question.
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