Spotting the opportunity in adversity can be hard – yet this is what prompted Dublin men Anthony Byrne and Len Brennan to set up their sales and marketing company, Product2Market, in the midst of the recession.
"When the recession came in 2008, companies started to see their sales declining and it was proving harder and harder to get new customers," said Byrne, chief executive of Product2Market. "At the same time, a lot of small and medium sized businesses (SME's) had to let people go – so they may not have had strong marketing in-house."
Byrne's company – which has been trading since 2010 – allows businesses to subcontract their marketing campaigns.
"A lot of SMEs use us to do the cutting-edge marketing campaigns that you would only typically see done by larger companies," said Byrne. "We're still in the recession to some degree and sales are still very hard to find. As many SMEs aren't able to raise finance from banks, their only way to raise money for their business is through organic growth – that is, by increasing their sales. We help our customers to find new customers and increase their market share."
There is clearly a demand for the company's services. Some of the company's more well-known clients include Dell, Hewlett Packard, TV3 and O2. Last year, the company had a turnover of €250,000 – and this will increase to €500,000 this year, according to Byrne. The company also expects to increase its workforce from 12 to 20 by the end of the year.