'Great time' for market entry

Entrepreneurs could actually be better off starting a new business during the recession, an expert has suggested.

According to Derek Williams of the Marketing Donut, some of the best-known companies in the world - such as Microsoft, Burger King and Dyson - were created during a downturn and the ground for market entry is "most fertile" in many ways at the moment, Freelance UK reports.

He told the news source that firms "must have a unique selling proposition" and be "more innovative" in the current economic climate, but pointed out that start-up and running costs have dropped and "great terms" are available on managed business spaces.

Mr Williams added: "This is my third recession and I have realised that I am at my best during a recession. I am always looking for ways to do things differently and better."

The marketing specialist explained that some companies are downsizing as a result of the recession, creating opportunities and potential sales for new enterprises, while low interest rates mean that many working adults have more money to spend and borrowing is more appealing for businesses.

In related news, recent data from the British Bankers Association suggested that the implementation of the Enterprise Finance Guarantee initiative has helped to increase the level of lending by banks to businesses.

Written by Julian Poulter and Copyright "Selling People 2009"