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The firm quickly hired staff and set them up in cheap premises: the crypt beneath Holy Trinity church.
And though some bits of the economy (and in some countries most bits) may be doing dreadfully badly, the crisis is also a chance to hire newly available workers, find cheap premises and capture markets abandoned by others.
It has no agents to pay for, it does not spend on advertising and rents cheap premises – in its own words "our income covers our costs of lending – nothing more".
It might be tempting to look for cheap premises when starting out, but growing a manufacturing business requires a good support infrastructure, and the geographic area that you choose is crucial for many reasons.
Finding cheap premises at 202 Kensington Park Road, west London, Travis installed a secondhand Jamaican sound system, hand-picked the stock and ran the business on co-operative principles.
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That really throws a wrench in the 'Jews are cheap' premise.
When the real estate market softened, we told commercial landlords who rented space to the state that if we didn't see rent reductions, we'd move to cheaper premises when our leases were up.
A further £510m of annual savings would be wrung out by applying Bank of Scotland's cost discipline to NatWest.Much of this would be achieved by applying Bank of Scotland's strategy of selling big old banking halls and moving to smaller, cheaper premises.
But while Joe's work has received international recognition – displayed at the Pompidou Centre in Paris, the British Museum and the V&A in London, as well as the Brooklyn Museum in New York – he has endured financial hardship at home and was forced to move his workshop out of central Accra to cheaper premises in 2008.
She had gone into partnership with the milliner-turned-photographer James Wedge, and they prospected the King's Road, an alternative venue to the already outmoded Carnaby Street, for cheap retail premises to open as boutiques, which they called Countdown and Top Gear.
In the provinces, your competitors will be subsidised, either through cheap paper and premises, or directly.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com