Downturn should not discourage start-ups

People considering starting up their own business should not be discouraged by the economic downturn, according to small business owner Jane Asher.

Figures from the Insolvency Service show that the number of firms in England and Wales entering into liquidation during the first quarter of this year rose by two per cent on the previous quarter.

This will undoubtedly cause some would-be entrepreneurs to think twice about making their dreams become a reality.

But Ms Asher said that if people have what they believe is a good idea for a business they should not necessarily be deterred by the current climate.

The actress and founder of Jane Asher Party Cakes said starting a company in tough economic times will force entrepreneurs to see business in a more realistic light.

Indeed, setting out on a new venture during a boom period may give business owners a false impression of the market and lead to problems during times of economic difficulty.

"If you start now and you get your costings right and you pare yourself down as much as you possibly can and do it very economically, if you can survive now things can only get better," she remarked.

Published on: July 16, 2008

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