Naked Grocer bares all for blog
I decided to start The Naked Grocer as I saw a gap in the market for fresh fruit and veg that was flavoursome, fresh, reasonably priced, ethically sourced, in minimal packaging and with a little bit of friendly customer service and knowledge thrown in for free!
I had the idea but was it enough?
I was mindful but not overly concerned we were in the recession, one we are currently struggling to get to grips with.
Could a recession be the best time to start a business? I think it actually might be! Is there ever a completely wrong time?
So what were my advantages of starting up in an economic downturn?
I was in a good position when looking at premises in terms of price and availability – there was a selection and the rental, lease agreement will never more be in your favour.
Council initiatives were also available to help start me out including the grant from Elmbridge Council which helped with the frontage of the shop.
The drawbacks include raising your capitol – it will be a lot harder and currently if the banks will lend you the money they will require a very large interest rate.
I found it very frustrating the government initiatives to ‘help’ small businesses start up, are more focused on giving assurances to the banks if they do decide to lend you money that if you cannot honour your debts the government will, not enough that they have bailed out the banks with billions of tax payer pounds.
The other thing that may, or certainly should be in your mind, is in tough times the public spend less or certainly spend less on unessential things (does this include your business)?
If it does then great but if not don’t be too disheartened it has been proven that even it times of an economic downturn people can react unexpectedly, ie. buy lavish or luxury products to cheer themselves up.
I got to the stage where although I would regret starting a business and failing I would much rather have regretted never taking the risk!
I believe if you want to start a business, then do it. Research it properly and do your home work, but unfortunately a successful business is not conducted on paper. There is only one way of knowing and that is to give it a go!
Good Luck!