BUSS4 - Recession Strategy Lessons from Four Female Entrepreneurs

This BBC article is really useful for students researching how businesses responded to the recent recession - and it also features an entrepreneur who will be joining us for the Business Teacher Conference on 18 June 2010!

Here is the link to the article

Laura Tenison did what many entrepreneurs had to do when faced with the withdrawal or reduction of banking facilities during the credit crunch. She reinvested her own money back into the business she founded. Entrerepeneurs prefering to provide their own funding was a feature of a recent report into why banks in the UK have not managed to increase their business lending.

Some of the key strategies adopted according to the article include:

- A focus on efficiency, aiming to reduce costs in order to be able to sustain profits and offer customers better value for money
- Differentiating and widening the product range - to reduce the reliance of a business on a few products (effectively reducing business risk)
- Being more cautious about allowing customers credit - reducing the risk of bad debts

Some excellent, detailed research examples in the article for BUSS4 students fine-tuning their research notes.