Prospering entrepreneurs in times of downturn

NEW YORK: At a time when businesses are facing tough times, many small-scale entrepreneurs are betting on products like sports car and services such as plastic surgery, among others to beat the economic downturn.

Terming them as "Remarkable, Recession-Proof Entrepreneurs", US business magazine Forbes has come up with a list of 10 people, including sports car maker, Labrador breeder and plastic surgeon, who are prospering in the depths of recession.

"Could they stumble if the slump wears on? Absolutely. But with healthy order backlogs--some stretching a few years out--these operations are safe for now.

"Lean staffs, a passion for their products and obsession with quality give them a layer of insulation that bigger outfits don't have," the magazine has said.

Other names include 32-year-old bike maker Sacha White, 41-year-old Paul Booth, who is a tattoo artist, and 52-year-old Peter Limmer, a hiking-boot maker.

For instance, 57-year-old Charles Morgan is a sports car maker in England, whose tiny Morgan Motor Co makes "snazzy, old-school roadsters straight out of Bugsy Malone".

Charles Morgan is the grandson of founder H F S Morgan. "The company cranks out only 700 cars a year at a modest, five-acre factory. Its most popular model is the USD 37,500 4/4 Sport, in production since 1936, with a 14-month backlog, marked by a signature bulbous nose, owl-eyed headlights, tiny windscreen and 1.6-litre engine that rivals the 30 per cent heavier Mazda Miata," Forbes said.

Mike H Stewart, who is 54 years old, is a Labrador breeder. Stewart who is the owner and head trainer at Wildrose Kennels, deals only in English sporting Labradors in black, yellow, chocolate and fox red (a darker shade of yellow).

"Stewart also sells what he calls "finished" dogs, those that have lived and trained at Wildrose for two to three years and have hunted 1,000-plus fallen birds. "He has already sold out this year's allotment of 15 finished dogs and is taking orders for the next year, at USD 10,000 to USD 12,000 apiece," the report said.

Regarding 39-year-old Yan Trokel, who is a plastic surgeon at Manhattan, the report noted that his "Y Lift technique, is getting a lift during the recession".

The magazine said that while traditional face-lifts can involve three to five hours of invasive surgery, the Y Lift takes roughly 30 to 45 minutes, with nearly zero healing time. "The procedure has become so popular that his calendar is booked solid for the next six months," it added.