SOURCE: Epson Europe

Epson Europe

January 10, 2011 15:36 ET

Recession Is a Time of Opportunity for Budding Entrepreneurs, Advises Epson Business Council

LONDON--(Marketwire - January 10, 2011) - Having seen other successful companies launch during times of recession -- including Epson Business Council member Jo Fairley's business, confectionary brand Green & Blacks -- the Council advises budding entrepreneurs that recessions are a time of opportunity for start-ups. 

During times of financial crisis there is a clearer playing field with less competition to be negotiated. As other businesses fall away, gaps in the market appear and provide an opportunity for new organisations to fill them. Similarly, while it can be emotional, redundancy can be the impetus needed to spur the budding entrepreneur into action, and the payout offered can provide the start-up funds needed. 

Needless to say, economic uncertainty in itself can be enough to put people off from starting up a business, but for those that do, the pay off can be great.

As UK Epson Business Council panel member Jo Fairley comments: "A good idea is a good idea, and if you're scared to progress it just because there is a recession on, you are probably using it as an excuse not to progress it. A true entrepreneur is going to do it whatever the environment."

French multi-entrepreneur Alain Bosetti also believes that: "It's always a good time to set up a business." But he also believes that: "Today's climate needs a different type of person to set up a successful company. Today's successful entrepreneurs are creative. They will find the right solution and the right financing to support their launch." 

Financing can be a challenge for micro-businesses whatever the economic climate, but in today's environment, it can be even more of an obstacle. However, there are solutions out there. The Epson Business Council experts advise looking beyond the banks for investment.

Italian social media entrepreneur, Marco Montemagno, advises micro businesses, especially web-start ups, to "find the right Angels" and work with Venture Capitalists, Angel Investors and Super Investors who will take a stake in the start-up with the view to an exit once the venture is making money. These options may mean giving up a share of your business, either for the short or long term, but if the choice is part of a business or no business, many would choose part.

Online sites such as TechRanch, a leading business development assistance organisation that focuses on the high-tech sector, are an example of alternative funding solutions for good ideas.

There is always risk when setting up a business, but if you're confident in your idea and have done the relevant groundwork to be sure that there is a market for it, the economic climate shouldn't put you off. There may be greater challenges, but there are also opportunities. And as Dr Hasso Kaempfe, German business consultant and former chairman of the board of Mast Jägermeister AG, says: "If you are the first to go out on the sea, the waves are still quite high but the weather forecast is good."

About Epson
Epson is a global imaging and innovation leader that is dedicated to exceeding the vision of customers worldwide through its compact, energy-saving, high-precision technologies, with a product line-up ranging from printers and 3LCD projectors for business and the home, to electronic and crystal devices.

Led by the Japan-based Seiko Epson Corporation, the Epson Group comprises over 80,000 employees in 102 companies around the world, and is proud of its ongoing contributions to the global environment and the communities in which it operates. http://www.epson.co.jp/e

Environmental Vision 2050
Building on its history of environmentally-conscious activities, Epson is now striving to achieve its challenging Environmental Vision 2050. For more details on Epson's sustainability initiatives, see http://eco.epson.com.

About Epson Europe
Epson Europe B.V., based in Amsterdam, is the Group's regional headquarters for Europe,
Middle-East, Russia, and Africa. With a workforce of 2,400 employees, Epson Europe's sales
for fiscal year 2008 were 1,569 million Euros. www.epson-europe.com