By Claire West
Zef Eisenberg, the man who started his business in 1991 and sold his sports Nutrition Empire in 2010, both economic recessions, put his business muscle behind David Cameron’s StartUp Britain campaign today.
“There are a hundred and one reasons why someone might decide not to launch a business but the recession shouldn’t be one of them. Cost can prove to be a lot lower during recession than during an economic boom and more talented staff can be on the market,” said Mr Eisenberg, who sold his sports nutrition brand Maximuscle to GlaxoSmithKline (GSK) for £162 million in December 2010.
The StartUp Britain launch followed hot on the heels of George Osborne’s Budget announcements that increased entrepreneurial tax relief and created 21 new Enterprise Zones which promise tax breaks, less red tape and high speed broadband.
“I fully support StartUp Britain,” said Mr Eisenberg. “New companies and start-ups are vital if we are to create a dynamic economy. Young and dynamic companies will inject the growth that we need in jobs far quicker than established concerns, and the recent increase in the Entrepreneurs capital gains relief is every reason to get started now.”
“Established businesses have a tendency to concentrate on their core markets during recession and aren’t looking to develop new areas. Timing is a vital ingredient for any business launch but an entrepreneur with a good idea, drive and determination can definitely capitalise on a recession,” said Mr Eisenberg.
Mr Eisenberg announced last month that he had a £150 million fund which is to be invested in entrepreneurs or young companies with good ideas. He is particularly investigating the health food, nutritional supplements and fitness sectors, and is actively looking at several opportunities now