When It's Tough the Brave Thrive ; Start-Ups Launched in a Downturn Are More Likely to Survive

Summary

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RUNNING a business is in Mark Fletcher's blood. His mother owned a series of cafes and there is a long family tradition of running shops in the East End of London. So when Mark, 31, opened his Fig 1 ethical gift shop in Totterdown, south Bristol, a year ago, he was surprised to find how much the first year of trading had to teach him.

'I was realistic about the pressures of running a business, but I had no idea just how important cash flow management was,' he says. 'It affects your day-to-day operation, especially when you're establishing new relationships with suppliers and planning to buy stock.' The credit crunch also brings new concerns for beginner bosses alongside the perennial challenges of organising finances, handling red tape and marketing the business.

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Extract

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When It's Tough the Brave Thrive ; Start-Ups Launched in a Downturn Are More Likely to Survive

However, a downturn rarely leads to a decline in the number of start-ups, says Stephen Alambriti...

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