New breed of recession-busting super-entrepreneur discovered

The downturn will make heroes and villains of many business owners, but female entrepreneurs look set to do well with strong recession-busting skills.

By News Desk
16th March 2009 at 17:05

female super-entrepreneurs surviving the recessionThe recession is testing the skills of the best entrepreneurs and small business owners alike, but research released today reveals a new breed of super-entrepreneur is female, 45-54 and living in the South East.

The research carried out by Continental on behalf of Bibby Financial Services, showed that 79% of small business owners are taking positive, practical steps to get through the recession.

Most (84%) are working closely with both customers and suppliers to ease in part the negative impact on cash flow created by the credit crunch.

Over a third (39%) are being much more open in terms of their business plans with customers and suppliers and 56% have negotiated better payment terms.

For some businesses, however, the measures required to survive the recession are more stark.

Cuts in marketing and advertising are the order of the day for 37% of small businesses, while 33% of business owners said they were using their own personal savings to support the cash flow needs of the business.

Perhaps unsurprisingly, business owners who had experienced previous recessions (just 46%) were much more focused on rigorously controlling finances than those who’d not previously had to survive a downturn while running their own business.

With a combination of caution, fiscal acuity and strong relationships with suppliers and customers alike, women business owners appear to be best placed to come out of the current economic cycle strongly.

As a result the research suggests the new breed of super-entrepreneur is likely to be:

  • Female
  • Aged between 45 and 54
  • Living in the South East
  • Have started their business between 1995 and 1999
  • Running a business with a turnover of between £250,000 and £500,000
  • Running a business that employs five or more people
  • Experienced in two previous downturns including this one

[Picture credit: cadesa licenced from Flickr]

Commenting Is Easy

Do you have an opinion on this news item? Have something to add that others might find helpful? Then please leave a comment in the box below.

If you'd like to have your image included next to your comments here, then you can set yourself up with an avatar in just a couple of clicks.

Leave a comment

Related Posts

Photostream

Listen to the sales podcast for SMEs Subscribe to the podcast on iTunes

PARTNER PROMOTIONS

If looking to boost your businesses performance with promotional marketing, travel incentives or incentive schemes get it touch with NDL Group