Recession best time to launch a business says e-tycoon
AJAZ Ahmed, founder of internet giant Freeserve, and serial entrepreneur, is urging would-be entrepreneurs to start up their own businesses despite the recession.
The Huddersfield “e-tycoon” is hoping to persuade budding entrepreneurs that an economic downturn is a good time to start your own venture.
“Forget about the current economic climate. It’s a temporary setback,” said Mr Ahmed.
“It’s vital that businesses do not let a credit crunch mentality drag down their ideas. Of course it’s wise to double-check risks but it’s crucial to remain upbeat. If you are going to start your own business now, then when the economy recovers you will be very well placed to reap the benefits.”
Mr Ahmed admitted however that some ideas would not work in a recession, which made it even more important to pick the right good idea, create a plan that can be articulated and sold.
“If you get that right, the finance is still available,” he added.
The entrepreneur is putting his money and advice where his mouth is with the launch of up to three new ventures.
The first- www.Jumbleaid.co.uk – is an ebay-style auction site, which will generate money for charities and community groups and cut the amount sent to landfill.
The business is based in Huddersfield’s The Media Centre, where Mr Ahmed is a board member.
The centre is already home to 130 high-tech and creative companies and houses Britain’s most environmentally-friendly business centre building, which was opened by the Queen last year.
“I have seen at the Media Centre how establishing a cluster of like-minded businesses and providing high-quality business support is working very well even in these difficult times,” said Mr Ahmed.
“We have record numbers of businesses and occupancy rates with firms moving in from Leeds and Bradford to take advantage of lower cost and higher quality office space.”
Freeserve became the UK’s largest internet service provider within three months of its launch in 1998. Less than a year later, it had floated at a market cap of £1.5bn and was sold for £1.6bn to Wanadoo in 2001.
