Alex Kraskow;

In a country where 70-75% of Luxembourg nationals normally end of working in the civil service, and most of the jobs in the country's largest business sector (the finance sector) are held by members of the international community, the innovation sector has been driven government initiatives and funding programmes such as Fit 4 Start through the national innovation agency, Luxinnovation which connects startups, researchers and enterprises; Also, ADEM, the national unemnployment office, has initiatives for those planning to start their own businesses.

Many of these jobs may be seen to be "safe" positions, without much risk, but there are people who are a bit more adventurous and are prepare to take "a leap of faith" to realise their own dreams, whether by design or by accident, or even by particular circumstances. Everyone's story is different...

However, on the ground, things many seem and feel a bit different… In this series of articles on entrepreneurship, Chronicle.lu is specifically addressing individuals who have left (the relative safety of) corporate life for (a relative risky jump into the unknown of) running one's own business.

For the seventh in this series, we are talking with Alex Kraskow who founded xx pilates, a pilates studio offering reformer group classes and private sessions on the full pilates equipment. She explained: "starting this year, we’re also providing courses to become a pilates instructor. The instructors in the studio are working as independent". 

Chronicle.lu: Please tell us about your previous corporate work, including what sector you worked in, and for approximately how long

Alex Kraskow: I started as an auditor at EY Luxembourg. After 1.5 years, I moved to Stockholm to work as finance manager for Procter & Gamble. After less than I year, I decided that the corporate environment is not the right fit for me. 

Chronicle.lu: When you decided to set up your own business, how long did it take you to set everything up before you handed in your notice and left corporate employment?

Alex Kraskow: I started to do courses to become a pilates instructor while still employed. However, when I was leaving the corporate (world), I did not have a concrete plan on what’s next. I quit, having in mind that if the right opportunity will appear, I’ll go for it. But I had no idea how long and when it will happen. 

Chronicle.lu: Did your employer have any specific initiatives in place to help you ease the transfer for corporate to self-employed status (e.g. have a period of half-time employment while you get everything set up)? If so, please provide details

Alex Kraskow: I had an option to continue my work part time, but I decided not to go for it. I wanted to completely take a break from the corporate - to have the space to think about what do I really wanted to do. 

Chronicle.lu: In setting up your own business, did you receive any specific help, e.g. mentoring, or did you follow any specific training courses (either sector-specific or about innovation/entrepreneurship/setting up a business)?

Alex Kraskow: I’ve done a lot of research on how things work in Luxembourg. I’ve studied subjects related to business and management at the university. So this, and my previous work experience in finance has definitely helped me. In October 2025, I did join the Entrepreneurial Woman Project EWP. It was happening at the same time as the opening of my studio. So the project did not help me as such to set up my business, but rather helped me to connect with other women in a similar situation. 

Chronicle.lu: Did you apply for any form of state aid or subsidy?

Alex Kraskow: I applied for primo-creation - the financial aid for first time business owners. 

Chronicle.lu: Please tell us about your experience of the administrative process, e.g. applying for a business licence, opening a bank account, registering your company, apply for a VAT number, etc.

Alex Kraskow: The process went quite smoothly. There were several administrative steps to go through, but it was manageable. 

Chronicle.lu: How long after leaving corporate employment did you "open for business"?

Alex Kraskow: Xx pilates opened 6 months after I quit the corporate world. 

Chronicle.lu: What do you find the most challenging aspect of running your own business? Sales / marketing / administration / finance…

Alex Kraskow: The fact that work never really ends. Unlike in a corporate job, you cannot just close your laptop at the end of the day and switch off. The business is always somewhere in the back of your mind. Your’e responsible not only for yourself, but also for your instructors, clients and the business as a whole. You cannot simply decide to quit or walk away whenever you want.

Chronicle.lu: What lessons have you learned that you would like to share with others thinking of doing the same, i.e. leaving corporate world and setting up on your own?

Alex Kraskow: Be prepared to do a bit of everything - sales, marketing, accounting, administration, customer service, HR and so on. You either have to be willing to learn and do these things yourself, or be prepared to pay someone else to do them. Personally, I love the variety, but in reality it means constantly switching between different roles and responsibilities. Also, while you gain freedom from corporate structures, you don’t necessarily gain more free time or fewer responsibilities. It’s just a very different kind of freedom.