My tough first year in business

On the one hand she's proud that she had the gumption and stamina to set up a business from scratch on her own and with no previous experience.

On the other, she's anxious for the future of her venture given the current economic climate.

With banks refusing to lend money, cash flow stagnant and rental and basic overheads continuing to rise even the most established businesses and large corporations are feeling the squeeze.

So it doesn't take a Warren Buffett devotee to recognise that a new venture at the luxury end of the service industry such as The Power Studio is being severely challenged.

Susi said: "To be truthful if you had told me a year ago this was where we were heading economically, I definitely would have put my business plans on hold.

"I am finding it a struggle. I know that the first year or two of any new business is going to be tough but in a recession it's doubly worse.

"Cash flow is my biggest issue. Under normal circumstances banks would step in and assist but in these extraordinary times, the financial support just isn't there."

Troubled though she is about the future, Susi's saving grace is that she does have a viable business venture.

The Power Studio in Millharbour is a contemporary yet relaxed suite dedicated to Power Plate, the revolutionary vibrational fitness training favoured by Gwyneth Paltrow that offers a full-body workout in just 25 minutes.

In the past month she has seen her monthly membership double and has recently been cited as an example of business excellence by the East London Small Business Centre.

Not bad for someone who, before launching her business, "couldn't write an Excel spreadsheet".

Susi said: "I've got a brilliant business and great clients. And considering it is so bleak out there, I'm doing well.

"It's just sad that there are so many factors out there against me. It's a constant uphill struggle."

In true Blitz spirit, Susi is battling on. She has made it her personal crusade to unite all businesses both large and small in and around Canary Wharf.

A member of the Docklands Business Club, she believes that pulling together by promoting each others' businesses, setting up contra deals, offering discounts and pooling marketing tools could be the difference between sinking or swimming in these uncharted economic waters.

She said: "Everyone is struggling out there. So everyone needs to pull together.
"We need to act as a community, promoting each others businesses and linking up on marketing and promotional ideas.

"It's all about throwing each other a lifeline in these tough times.

"After all it is the small business that's the glue that sticks everything together."

FAVOURITE FIVE

1. Lunchtime venue: Byblos Harbour, The Waterfront, Millharbour: "Excellent food, excellent value."

2. Business meeting venue: The Radisson Edwardian, New Providence Wharf: "Great service, great setting."

3. After work drink spot: Dockmaster's House, West India Quay: "Relaxed and comfortable."

4. Coffee bar: Starbucks, Canada Square: "If I need a quick fix, I opt for an espresso. If I need comfort, I go for a skinny vanilla latte."

5. Favourite shop: Reiss, Jubilee Place: "Lovely clothes, lovely staff."

ADDRESS BOOK

The Power Studio, 41 Millharbour, 0207 001 0809, thepowerstudio.com
East London Small Business Centre, Wentworth Street E1, 020 7377 8821, go to goeast.org.
Docklands Business Club, 33 Queens Street EC4R, 020 7203 1965,
go to docklandsbusiness.org.uk