Business has certainly seen better days, but as 2008 draws to a close, we're seeing some positive outlooks for the New Year. Surveys and reports carried out over the last few months are showing that entrepreneurs with drive and determination are refusing to be thwarted by the current financial crisis.
Whereas larger corporations are feeling the pinch more severely, closing down departments (if not entire businesses) and making unfortunate redundancies, individual entrepreneurs and small to medium enterprises are seeing a more positive perspective. As with all hard times and economic downturns, opportunities do arise for those with the wherewithal to take them. The verdict of recent surveys is that courage and foresight is keeping entrepreneurs optimistic.
Reflex has witnessed the effects of this in regards to office rentals. As rental rates have come down, so smaller businesses are returning to their most desirable locations -- from Soho to Mayfair. Previously pushed out of the area due to high rents, these off-shoots and newly formed companies are finding they can now afford to take space in the midst of their more established peers. With Virgin's head office in Golden Square, a host of film companies around Wardour Street and PR, design and publishing firms scattered through Broadwick Street to Poland Street and surrounding, Soho is the address to have for any new media start-up and is seeing a new influx of these businesses once again.
It may be a difficult time we're all facing, but for those who seek them, opportunities are there for the taking.
