Redundancy and Buying A Business

UK unemployment figures increased this month by another 164,000, the biggest rise since 1991. So what can you do if you have been made redundant or have a fear of redundancy but expect a reasonable redundancy package? After all forecasts are that unemployment could reach 3 million by the end of 2009. Source BBC

The problem with the 45 - 65 age group is that although they have excellent life skills employers will subconsiously be looking at younger prospects if they want to take on new employees. Do these people simple live on their redundancy money and get a job at the local Tesco’s store pushing trolleys around the car park? It is an option!

They can start their own business, but this involves risk as 60% of start ups fail within 3 years.

If they want to reduce their risk the best option perhaps is to buy a business.

A recent BusinessesForSale.com survey of 1,000 potential business buyers found that:

48% of respondents saw the current economic conditions as an advantage when buying a business.

11% admitted they wish they had bought 6-12 months ago while an optimistic 19% think it will be better to buy a business in 6-12 months time.

So if you find yourself being made redundant and have a reasonable redundancy package simply look at the opportunity as a new and exciting episode in your life and an opportunity to take control of your life.

Horizon Business Agents

This entry was posted on 15/10/2008 at 10:26 am and is filed under Buyers, The Economy. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response or trackback from your own site.