"You really have to get the edge over your competitors", Mr Allitt said. "Too many good businesses fail because they don't market themselves as well as they should. Relying only on ‘word of mouth' at times like this can be fatal".
Mr Allitt, who worked in newspapers before radio, launched a real estate company in England during the last major recession, in 1990 - with innovative campaigns using both media.
"Within six months, we were number one in the market", he said. "Believe it or not, a recession is a great opportunity to win a bigger share of business".