How I beat the credit crunch

Francoise Peretti quit her PR job 15 years ago to set up her own PR agency - in the middle of a recession. She lives in London with her husband Constantine and 12-year-old twin boys

After a bad day at work I remember coming home and collapsing on a chair. Nothing in particular had happened - I'd just lost my passion for work. My husband, who runs a food health and safety company, shrugged and suggested I set up my own business. I laughed at his nonchalance and told him, half joking, that I'd think about it.

 

The truth was, I hated being a cog in a huge corporate machine and longed to feel excited about work again. So, three months later, I handed in my notice. It was 1993, towards the end of the last recession: dangerous time to leave a well-paid job and go it alone.

 

I'm not a typical entrepreneur. A former academic with a PhD in political science, I fell into PR when I moved to New York. I'd previously studied in Boston, loved the US and had friends there, so I thought I'd give New York a try - I was in my twenties and had no responsibilities. I knew nothing about PR, but when a friend heard of a junior position in a PR company, which worked mainly with champagne companies, I applied. I bluffed my way through the interview and slowly worked my way up. By the time I left, I was in my early thirties, working for an international PR company and had a seat on the board in London.

 

When I told my boss I wanted to set up my own company, she offered me an incredible deal - if I stayed for three months to help tie up several important accounts, I could take my three favourite small champagne clients with me! I was thrilled by her generosity, but I also realised that the work I was staying to do before I left was worth a huge amount of money - so it was a fair trade.

 

Three months later, I walked into my new office in London, which was empty apart from our floor. I had secured it through a friend on a reduced rent after it had lain empty for a year during the recession. I greeted my two members of staff: one who was helping with admin and an account executive to help with clients. There wasn't much of a cost outlay so I didn't need to take out a business loan and we set about managing the PR accounts of the three small clients.

 

It was hard work and we often worked 12-hour days - and at times I still do. But soon after we'd started up, I secured the account for CIVC, the professional body for the champagne industry. And my dreams were further answered just a few years later when Vinopolis London asked us to promote them internationally. Our hugely successful media campaign across both Europe and Russia started to attract other clients, such as the Metropole Hotel in Monte Carlo - and probably two thirds of our clients now have an international aspect.

 

I spend 30 per cent of my time travelling and we've now opened a Paris office. Fifteen years after starting out, I have 30 luxury brand clients, such as the Dorchester Collection of Hotels and the champagne industry's CIVC and I employ 20 staff. Sometimes I still have to pinch myself when I see how far we have come in running this successful international company.

 

I'm just an ordinary woman, who had a dream. Anyone can do what I've done, you simply have to have the idea, a plan, a passion - and the confidence to trust your own instincts.

 

HSBC's tips on how to take your business international

 

1. Do your homework - talk to successful businesses that have gone international and learn from their successes and how they overcame barriers.

 

2. Research the market - there is a wide range of tools and reports available online that can help you gain a greater understanding of new markets.

 

3. Take advice - organisations such as UK Trade & Investment (www.uktradeinvest.gov.uk) and HSBC (www.hsbc.co.uk/international) can provide you with plenty of expert advice and support.

 

4. Understand the risks - trading internationally offers pitfalls as well as opportunities. Make sure you really understand the risks and take action to mitigate them.

 

Visit www.hsbc.co.uk/womeninbusiness for more information and advice

 

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