Don't Start a Business in a Recession...Not!

If location , location and location is vital in identifying and enhancing the value of an asset in the property market then cash, cash and cash remains paramount in any business, but never more so than in a new venture in these cash strapped times.

Starting a business in a recession may not be your first choice as an entrepreneur. Whether through desire or as a result of unforeseen circumstances you find yourself in such a position, an enterprise started in a downturn may not be any less successful than one started in a boom. Whatever the temperature of the economy, the key principles of business management need to be adhered to.  

Management books abound that include such essential ingredients to success as; a business plan, a budget, a marketing strategy and of course a people management and development process. All of which of course are very worthy, maybe even for some particularly institutional investors a prerequisite. However in my 25 years of experience of buying and selling over 300 businesses they are ingredients that, without the recipe, cannot be blended into a meaningful dish.

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