AFTER THE BOOM:WHEN CATHAL Brady became a victim of the recession and was made redundant, he decided to simply start his own business.

The MBA-qualified former business development manager at McNally Living formed Ultan Technologies, his new company, in March and he says business is booming.

Mr Brady’s company, which selects and implements business software and intelligence tools and provides online marketing for companies, has filled a gap in the market that is, ironically, actually being driven by the economic downturn.

“I suppose I am a little surprised. I didn’t think that demand would be as high, but because of the recession people are looking at ways to save money and how they can make their company perform better and measure that performance,” Mr Brady said. “When money is tighter, people concentrate on reducing costs and these tools help them do that.”

He is so confident in his customers’ response so far that he plans to hire two staff by the end of the year and another seven in 2010.

“From the reaction I have got so far I am very pleased. I am very optimistic. I think once you get in front of people and explain the savings they can make using the tools, people can see immediate savings.”

However, the recession will affect how he runs the business initially, including reducing costs by working from home, using online tools for meetings with contracted employees, and keeping staff levels as low as he can, for now low.

“Starting up a new business you go from having people to do things for you to having to do everything yourself.

“It is nothing to do with the recession – it is just something you have to do with a new business,” he said.

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