Monday, 22 November 2010

Monthly Business Feature with Rhoma Bhowmick

Today, Rhoma talked about starting a business in a recession.

Is recession a bad time to start a new business? Well, not necessarily!

Certain businesses actually thrive during times of recession. For example the businesses involved in food, affordable luxuries and also new inovative ideas.

It's also possible to buy a well established business that has been trading well, including a franchise.

However - be careful and be cautious. It's very important to check the market conditions you could be trading in and minimise risk wherever possible.

And if you have an innovative new idea, it could do really well despite the difficult trading conditions that a recession often brings.

A great new product or idea can be brought to market with the help of Businesss Link who can help and advise on setting up and managing all aspects of new businesses. From giving advice on how to safeguard your product (eg patents) and take it to market, through to managing cashflow, employing staff and everything else you might encounter in the world of succesfully running your business and getting your new idea or product to market.

If you would like to contact Business Link in this area (which is a FREE to use, government funded organisation), you can check www.businesslink.gov.uk/east or call them on 08457 171 615.

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