Start A Business Now!
In an article on the BBC website, entrepreneurs were quoted airing their views on the virtues of starting a business during a recession. Rachel Armitage, co-founder of Zoombu, an Internet-based travel search service, was quoted to say:
“It’s the best time, I would argue, because business models are changing, consumers are now thinking differently about the way in which they spend their money. Large-scale incumbents don’t really have the cash to innovate in the same way that start-ups do, so it really allows us to get ahead in ways that they can’t.”
The business start-ups were gathered at the latest London meeting of the Open Coffee Club, an organisation that arranges weekly networking meetings for entrepreneurs and venture capitalists, all over the UK and Europe. The idea is to mirror the California melting pot of ideas, innovators and investors that gave rise to the Silicon Valley dot com boom in the 1990s.
Saul Klein, who originally set up the organisation two years ago, is also quoted in the article.
“Often the best ideas and the best businesses emerge out of recessionary times. If you look at when Microsoft was created, if you look at when Google was created, Facebook, Skype, all these household names, the titans of technology were created in recessionary times.”