FEATURE | Cover Story
Out of the blocks
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KATIE O’ROURKE talks to four companies who have taken the brave step of starting up a new business during the recession.
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MANY SUCCESSFUL BUSINESSES
have been set up during a downturn; Microsoft being a prime example. Following Mr Gates’ example, it’s clear that a recession can offer a great opportunity to launch a new idea. Ireland has the advantage of a talented and highly educated workforce with a wealth of ambition and innovation. In the midst of uncertain times, new businesses are popping up all over the country at an increasing rate, suggesting that there is little doubt that our economic dilemma has forced the hand of many of our new entrepreneurs. Not that that’s a bad thing – after all, a recession can offer a chance to re-evaluate future goals and grasp new opportunities. Succeeding in a recession requires sharp innovative ideas, frugality and a heightened sense of responsibility. If you can survive and succeed in a slump, it logically follows that your chances for overall success are quite good once the recovery begins. To help some of Ireland’s new business
people on their way, InBusiness has decided to look at some of their business models and give them a chance to explain what it is they do, and why they decided to set up their companies in the first place. Some spotted gaps in the market, others longed for the creative outlet of working for themselves. However, they all have one thing in common – the determination to succeed.
LADYBIRD CATERING
Cousins Joana Nunes and Terri Reynolds set up Ladybird Catering Company in October 2009, a time that many consider to be the epicentre of the recession. Both were made redundant in the autumn of last year and after two weeks of unemployment, Joana decided to enhance her business skills by enrolling in a business course. Her studies inspired her decision to
28 InBusiness May 10
combine her passion for cooking and her newly discovered entrepreneurial skills. With Portugese blood in the business, Ladybird incorporated the Iberian influence to produce delicious homemade cooking. In fact, having looked closely at the market, Ladybird discovered a niche for Portuguese cuisine. “If we can offer products that our customers can’t get anywhere else, then it makes sense that they will come back to us again and again,” explains Joana. “Many of our recipes have been passed down through many generations, which makes them unique, and in turn, a real selling point.” Once the business was off the ground, Ladybird approached the Portuguese Tourist Board with a proposal to cater for their events. Having secured that business, both Joana and Terri turned their attention to marketing the company to a wider audience. They quickly found out that budgetary prudence and the need for greater exposure don’t necessarily make the best mix when promoting a business, but with some strategic thinking and use of
social media outlets, Ladybird found the ideal platform to spread their word. “Social media has become a very important tool in our business,” says Terri. “At first I was unsure about using Facebook and Twitter to promote the business
Joana Nunes and Terri Reynolds of Ladybird Catering.
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