Start up, don't pack up yet

Updated on: 17 February,2009 08:32 AM IST |
Lavanya Srinivasan |

Undeterred by the recession, some Bangaloreans are starting new firms

Undeterred by the recession, some Bangaloreans are starting new firms

Some Bangaloreans are going where others fear to tread setting up businesses in the time of recession.

"Start now. This will give you a lead over the competition, and will be worth the struggle. When the economy comes out of recession, your business will be that much closer to being ready to raise capital," says professor Gopal Subramanyam,u00a0 an economist.

Some entrepreneurs in the city seem to have taken that advice to heart. Rajesh Rajan started Cleanslate Communications, a brand and digital communications company, in the third quarter of 2008 and has opened two offices in Bangalore and London.

"We recognised the opportunity midway into the economic crisis. Also, our SME (small and medium enterprise) focus allows us to bring better value through a combination of outsourcing, offshoring and global sourcing," said Rajesh.

Rajesh, who has pumped in close to Rs 20 lakhu00a0 into the business, said, "Our costs have been primarily capital investment for hardware, software and salaries."u00a0 Rajesh's company is doing well now after a static period from October to mid-December.