Local entrepreneurs to do market research prior to setting up companies, Mikhail Usoltsev says

29 October 2007 (08:36)

'The rate of business development is very intense nowadays, so it would be wise of any entrepreneur to think of their future, since any one of them can go bust at any given point,’ Deputy Chairman of Consumer Services Committee Mikhail Usoltsev says.

'Nowadays companies tend to expand through gradual takeovers; if you take Yekaterinburg’s photography market, for instance, there are only two major players at the moment with retail outlets in all the parts of the city,’ notes Oleg Zemtsov, the spokesperson for Deputy Mayor.

'One should think carefully of where to set up a business and do some market research prior to this. If a particular district has already got four hairdresser’s and three grocery stores, there is no need for another one. A business dies if there aren’t enough customers,’ Mr. Usoltsev notes.

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