BD 05/09 - 16 November 2009

Starting a business in a recession can be difficult and even worse when that business is in one of the worst affected sectors, but two entrepreneurs have defied the odds and even won some prestigious awards.

Andrew and Darren have worked as estate agents for over 10 years and decided last year to take a risky plunge and start their own lettings, sales and property management business, Stoneshaw Estates, based in Dagenham.

Contrary to the doom and gloom surrounding the economy and the property sector, the pair took the recession as a positive incentive. Andrew says: “With the market as bad as it had been for the first time in 20 years, we knew that if we could survive through the bad time we would be able to make a success of the business.”

Finding a suitable site for their business was one of the first hurdles they had to cross. “It was hard work getting permission from the council for the site and we were turned down twice.”

After a continued discussion, the pair were finally granted permission for their new office. In May 2008, they came to Barking and Dagenham Small Business Centre (BDSBC) and were told about their eligibility for a premises improvement grant for the initial business start-up costs. “Funding for a new business is always difficult and getting that grant helped us considerably,” says Andrew.

Through careful budgeting, planning and with the long-term survival of their business in mind, Andrew and Darren worked 7-days a week for the first 9-months of their business – with Andrew even working during the birth of his baby twins.

Andrew advices new entrepreneurs to “plan, plan and plan”, be sensible with their budget and seek help from local advice centres like BDSBC.

In their first year of trading, Stoneshaw Estates became the runner up of “Best New Business” at the Barking and Dagenham Enterprise Business Awards and then scooped the prestigious “Best New Business Award” at the Thames Gateway Awards held 6th November 2009.

Having two awards under their belt has not only encouraged Andrew and Daren, but has given them the push to further expand their operations, as well as going after the Estate Agent of Year Award, taking place April 2010.

“We will continue with the hard work that we have been putting in and try to give all our clients a service that is second to none - looking to the future we are planning to open another office and already have our sights set on an area not to far from where we are now in Dagenham.”