Serviced offices may aid new businesses26th July 2010

A serviced office might help those launching their own company in the current economic climate.

According to the Forum of Private Business (FPB), there is no right or wrong time to start up a business.

Phil McCabe, spokesman for the FPB, said that despite today's tough recessionary circumstances, entrepreneurship is still a viable career option.

"Although the purse strings would have to be held tightly and current conditions aren't great, there are opportunities in the downturn as well as disadvantages," he explained.

Mr McCabe added that during a difficult economic period, start-up costs are lower and there are more gaps in the market to exploit.

A survey carried out on behalf of Hiscox revealed that nearly a quarter of students are currently running or about to launch their own enterprise.

One-in-three say a shortage of jobs has made them consider working for themselves.

And young entrepreneurs may wish to consider renting a serviced office as a starting point when embarking on their new businesses.

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