When top litigator Trevor Asserson left London and his partnership at one of the world’s largest law firms to start again in Israel, he admits it was a total risk. But, three years on, he has established a lucrative foothold in the global legal market and is “absolutely flooded” with work.
Mr Asserson, 52, founded his eponymous law practice in 2005. His aim was to take advantage of cheaper operating costs while still providing the same standard of service.
Technology and the creative industries will be key to pulling the UK out of recession, says Jonathan Kestenbaum, the chief executive of the National Endowment for Science, Technology and the Arts (Nesta).
He believes sectors such as healthcare, clean-tech, bio-tech and IT will drive the economy over the next few years, doing what the financial sector has over the past decade.
“They will have to,” says Mr Kestenbaum, 47. “There will be no choice because that’s where the demand is going.
By his own admission, Neville Kahn has probably made more people redundant in the past few months than anyone else. It’s his job. As global head of reorganisation services at accountancy firm Deloitte, Mr Kahn has led the administration of some of the recession’s most high-profile casualties, including Woolworths, Waterford Wedgwood and Barratts Shoes — the trading subsidiary of Michael Ziff’s Stylo plc.
When you next watch a YouTube clip on the web, you may well be witnessing Israeli Tal Chalozin’s technology business expanding its reach — and revolutionising the online advertising market.
His company, Innovid, which he co-founded almost two years ago, enables advertisers to move away from the standard pre-roll and post-roll advertising — short ads that appear before or after the clip being viewed — and instead insert three-dimensional interactive adverts into videos, turning entire surfaces into clickable canvases.
Business has never been so good for Andrew Lazarus. Co-director of TGS Pawnbrokers, his company is boasting a record-breaking start to the year as cash-strapped people trade in their goods in search of a quick buck.
“We really are benefiting from the recession,” says Mr Lazarus, 41. “As much as it can be an embarrassment to say so sometimes, we are busier than we ever have been.
“Recently, it’s gone absolutely crazy. We smashed all records for January and were 75 per cent busier than the same period the previous year.
Businesses are poised to endure a tough 2009, with corporate results worsening by the day. How can they cope? Dan Schwarzmann, who leads PricewaterhouseCoopers’ (PwC) Business Recovery Services team, offers his top ten tips.
Mr Schwarzmann, 45, deals with the world’s biggest insolvencies and was last year appointed an administrator for top US investment bank Lehman Brothers, which filed for bankruptcy in September.
His job is to provide recovery advice and insolvency services to companies and individuals in financial difficulty.
Recession-speak aside, it’s going green that businesses across the globe are all talking about.
A new crop of eco-entrepreneurs appears to be emerging from the wreckage of the financial crisis, and even large companies such as Wal-Mart/Asda, Tesco, Intercontinental Hotels, Goldman Sachs and Marks & Spencer are pushing towards more carbon-neutral, sustainable practices.
Evidence that the UK housing market may be showing signs of a revival is beginning to build. Residential property has undergone an increase in activity since the start of 2009, says Simon Rubinsohn, chief economist for the Royal Institute of Chartered Surveyors (RICS).
Talk about bucking the trend. More than 200 shops a day are expected to close this year as the recession deepens — victims already include Woolworths, MFI, Zavvi, Adams, Whittards, Waterford Wedgwood and The Pier, with heavyweight Marks & Spencer set to cut jobs. But Julian Stone, who established the American Dry Cleaning Company in 1990, says now is an opportune time for an aggressive expansion.
The company, which has 27 high street branches, has been expanding by 20 per cent a year. Group turnover is up 25 per cent on last year and is on target to hit £9 million.
Shrinking fine art sales and price drops of up to 30 per cent present a bleak picture for the art world. But Philip Hoffman, who founded the UK-based Fine Art Fund — one of the world’s largest fund management firms — believes there is reason to remain upbeat.
“We have raised more money in the past four months than we did in the past year or so,” says Mr Hoffman, 47, who founded the fund in 2004. For a minimum of £125,000, it helps investors buy and sell paintings, from old masters to contemporary art. Purchased works are stored in a Geneva warehouse.