A Long Ashton entrepreneur is giving help and advice to an Iranian real estate agent in Dubai on how to cope with the global economic downturn.

Businessman Guy Kingston, who succeeded in launching one of the first successful entrepreneurial businesses in post-Communist Russia, has set up a Facebook group where entrepreneurs can swap information and advice on how to beat the recession.

More than 1,000 people have joined the Mind Your Own Business Group on Facebook in just a few months with business people from all over the world exchanging views or asking for help.

Mr Kingston said: "The current economic problems are global and part of the reason businesses have seen a steeper and faster downturn than previous recessions is because of faster communication through the internet.

"We need to turn the internet into part of the solution with people networking across the globe to help each other."

Iranian real estate agent Hengameh Khani used the group to seek advice from Mr Kingston and others. She was considering dealing with leasehold property after property sales fell and wanted to call on the experience of others.

Mr Kingston, who also set up the Mind Your Own Business website www.myobpod.com for entrepreneurs before the economic crisis said social networking on the internet can hold the key to fast recovery.

He said: "Social networking sites like Facebook can prove to be a real benefit. In the past people might have gone into a wine bar and told someone their troubles – now the resources of the whole world at your fingertips and there will be someone out there who has tackled the problem you are facing before.

"I have been helping people start and grow businesses for many years and to succeed people need to have support and inspiration from others.

"Every entrepreneur in the world has to address the current economic realities and those that do it well will not only survive they will thrive."