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13 November 2014

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Credit Crunch

You are in: Dorset > Credit Crunch > Risky business?

Olives on sale in Olives Et Al

Olives on sale in Olives Et Al

Risky business?

Three separate entrepreneurs in Dorset believe it's still worth taking a risk in business despite the current recession - it's all about the strength of your idea, they say.

Despite the national recession, several Dorset entrepreneurs are determined to buck the trend by opening new businesses. Trade might be tough, but they're convinced there's a market for their goods.

Giles Henschel is the co-founder of Olives Et Al, which began as a factory business in the early 1990s in Sturminster Newton.

Giles Henschel, co-founder of Olives Et Al

Giles Henschel, co-founder of Olives Et Al

His decision to open the new deli shop, The Potting Shed in Poundbury Gardens, comes after many sleepless nights weighing up the risks, but Giles is confident that now is the time to expand.

Giles says: "I think the whole doom and gloom thing is so overplayed and we've actually got ourselves into a state where we're almost frightened to go and do anything at all.

"Sure we're all suffering and we all have to work harder, but actually there's plenty of opportunity out there."

"Everybody still has to eat"

It's a similar story for Daniel McLachlan of Dan's Sandwich Bar in Dorchester, who started trading at the beginning of January 2009 and believes that we must look at the recession in a positive light, but also be realistic.

Daniel McLachlan of Dan's Sandwich Bar, Dorchester

Daniel McLachlan of Dan's Sandwich Bar, Dorchester

Daniel says: "When you read the newspapers, they aren't talking about the economy we are living in, but instead about the crumbled economy of the banks and the City of London. It does have an affect on us, but luckily I'm in catering and everybody still has to eat!

"If I'd have come into this when there was a boom going on, I think I would be feeling the pinch a lot harder now. In the middle of a recession and at the slowest time of year, I'm getting to grips with accepting that the days' takings are not going to be astronomical."

Advice

Daniel's advice to anyone thinking of setting up a new business is to think carefully about the type of business you choose.

He says: "There's no way a small shop can compete with the big superstores. It's all about researching what an area needs and looking to fill the gap in the market."

George Afedakis is the President of the Weymouth and Portland Chamber of Commerce. He believes that businesses in Weymouth should be encouraging people to holiday in the resort, be they local or from further afield, and the only way to do this is by continuing to move business forward.

George says: "We cannot look to the past, but should instead turn our attentions to the future. It's not all bad. Yes, we have had a metaphorical storm, but good weather is coming."

Claire Robertson in the new Wellworths store

Claire Robertson in the new Wellworths store

From Woolworths to Wellworths

That's a view shared by Claire Robertson, who lost her job as the manager of the Dorchester branch of Woolworths when the company collapsed late last year. Claire's now re-opened the store herself under the new name of Wellworths.

With regard to setting up a new retail business in an economic downturn, Claire believes the key is accurately targeting the market and selling at the right price.

Claire says: "Of course there are pitfalls, but people still need products on the high street."

The Wellworths store in Dorchester opened on Wednesday 11 March 2009.

last updated: 12/03/2009 at 12:27
created: 12/02/2009

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