Economic downturn ‘opens doors’ for recycling business Worn Again

One of the greatest challenges facing social business Worn Again is the widely-held public assumption that any product made from recycled materials must be cheaper than conventional merchandise on the market.

In fact, Worn Again, which makes bags, outerwear and accessories from decommissioned uniforms from the high-speed passenger railway, Eurostar, and Sir Richard Branson’s Virgin hot air balloons, has discovered the process is very labour intensive which pushes up costs.

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Family values: leading the way out of the downturn

Family-owned businesses have been hit by the economic downturn like many others. But while they have suffered along with everyone else, they are able to leverage an inherent competitive advantage to ensure they survive and prosper despite the poor business and financial climate.

According to Randel Carlock, Professor of Family Business and Berghmans Lhoist Chaired Professor in Entrepreneurial leadership at INSEAD, this advantage encompasses committed owners, long-term strategies, industry knowledge accumulated over generations, and values such as trust, stewardship and longevity.

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