Entrepreneurship in Difficult Times

Recently I have given a couple of talks on “Entrepreneurship in Difficult Times” and I am now more convinced that young, enthusiastic entrepreneurs will be the people who will help us to defeat this recession.

Why? Well this recession has not just been caused by the bankers, but by a “state of mind”. Commerce needs confidence, without it we can see what happens to the world’s economy.

Most of the young entrepreneurs that I meet are “brimming over” with confidence. Some observers, those with “half empty glasses”, say that this just leads to disasters. I join those with “half full glasses” and welcome youthful enthusiasm and new ideas, especially in these difficult times.

There are many reasons why a recession (depression?) is a good time to start a new business, see http://bizfinance.about.com/od/startyourownbusiness/a/startup_in_recession.htm
and
http://www.thestandard.com/news/2008/03/20/five-reasons-why-recession-good-time-start-company
It also is interesting to note the number of successful businesses that started in recessions, e.g. Disney Corporation (1923), Hewlett- Packard (1938) and Microsoft (1975).

So, help to defeat the recession, support and encourage new businesses that are being started by young people and see what happens.

Author: Professor Nigel Adams

Nigel is a Professor & the first Director of the Buckingham Enterprise & Innovation Unit (http://www.beiu.co.uk) part of the Vinson Centre (http://www.vinsoncentre.com) at the University of Buckingham He also teaches, advises and mentors undergraduate students taking the innovative two year (8 term) BSc in Business Enterprise (http://bit.ly/bbe_home1) and post-graduate students taking the MSc in Entrepreneurial Consultancy in Practice (MECP) Programme (http://bit.ly/mecp_home). This masters programme develops business consultants who are able to advise business owners how to successfully grow their businesses. BBE one of only a few similar honours degree programmes in the world which offer undergraduate students the opportunity to study for a degree in Business Enterprise, whilst also starting & developing a business. These types of degree are called Venture Creation Programmes (www.vcplist.com) , Within 4 months of starting the programme students must pitch for seed-corn capital from "Buckingham Angels". Nigel also teaches Entrepreneurship to other students at the University of Buckingham and advises and mentors university students and staff and local people who want to start business or grow their businesses. Between 2002 and 2011, Nigel was Managing Director of Nigel Adams & Company Ltd, providing business, management, international marketing, recruitment and other support and advice to the management of Western companies to help them establish business operations in Central & Eastern Europe & to improve their sales. Nigel is an experienced international business adviser with more than 40 years experience in business, enterprise, management, marketing & counter-trade. He was based in Poland from 1993 until 2002, working on Polish state company restructuring projects as a British Government Know How Fund Management Adviser. Nigel is a Fellow of the Chartered Institute of Marketing (CIM) & a Chartered Marketer.