Richard Branson’s Recession Advice

Branson gave advice on youtube from an entrepreneurial perspective

On Large & Small Companies

“I think big companies are going to retrench and there’s going to be a lot of people laid off from big companies. And therefore, a lot of those people who are laid off can be entrepreneurs in the future, and I think will be the entrepreneurs in the future. There are also going to be a lot of small companies out there that have still got reasonable cash flow and…lines of credit. And I think those kinds of companies and Virgin included must try to help expand out of this problem. They must look for opportunities, and there will be hundreds of opportunities around. They must get out and employ people. They’re going ot find their cost base is going to be less right now. They’re going to be able to employ people at most liekly slighty at cost ef fective ways than in the past. And I think if thousands of small companies can try to fill in the gaps that some of the bigger companies…”

On Marketing Strategy

“I think in tougher times it’s all the more reason for companies to get up there and find funs ways to put there company out there. If you can get a really good PR person who can get out there and get your company out there and well know it will save you a lot of money and will be far more effective than conventional advertising. And that’s something I recommend to smaller companies. Or if you can’t afford a public relations person, you just have to become your own public relations person…make sure people know about it.”