'Bright futures' for entrepreneurs

Posted on 5 November 2008

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The economic downturn need not be entirely negative for small business owners and ambitious businesspeople, one expert has suggested.

Dr Gideon Maas, co-director of the Institute of Applied Entrepreneurship at Coventry University, says a period of recession can open up new opportunities for start-ups offering innovative products and services, reports the Birmingham Post.

He claims that the nature of a businessperson - seeking to identify needs and fulfil them - means that start-ups can thrive during market downturns.

Dr Maas states: "The environment is right to create more entrepreneurs. In times of 'chaos' entrepreneurs will grow because chaos means there are opportunities to be exploited."

Those who do suffer business setbacks can learn from the experience and benefit in the future, he adds.

A study conducted by the Entrepreneurs’ Forum discovered that 55 per cent of those who have started a business rate themselves as average academically, hinting that success in business does not always hinge on educational achievements.

Category: Contractor News

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