Sole trader 'thrived' following recession

Date: 10th March 2009

An ambitious sole trader fought back from redundancy to form his own successful business start-up during the UK's last recession, it has been reported.

As featured in the Yorkshire Post, the story of David Kilburn could provide a beacon of hope for other small firms struggling during the add ‘current’ economic downturn.

Following dismissal from his job in 1995, Mr Kilburn used his existing contacts to form MKM Building Supplies in Hull.

He told the newspaper: "I was motivated not only by putting food on the table, but also because I wanted to show what I was capable of."

Mr Kilburn also had a number of tips for fellow sole traders operating amid the recession.

He added: "Cash is king … pay your bills on time and don't tread on people on the way up, you never know when you might need them on the way down."

Earlier this year, the Federation of Small Businesses claimed that the number of start-ups and sole traders will rise over the next year as a result of the downturn, the Financial Times reported.