Look at the way the recession may benefit some victims who are forced into self employment

1. RELUCTANTLY SELF EMPLOYED
As the recession advances and people struggle to find a job, many are looking at self
employment as an option. If they have a trade, such as building, joinery, decorating etc,
it may be relatively easy to pick up small jobs and at least earn something. They are
effectively being forced into self employment.
The bad news is that the failure rate for new businesses is extremely high, particularly
where the proper planning and preparation process hasn't been followed fully, which is
usually the case with these reluctant entrepreneurs.
Of course, they are not prepared and haven't planned, so have no idea of the processes
to go through even to register with the authorities which can cause future tax problems -
and generally have no idea of who to ask. Most have never had dealings with business
advisers and find the thought daunting. “”The good news is that there are people out
there trying to help””. Business Link provides a range of useful information and many
local accountants will offer a free initial consultation. Accountants top the list of most
trusted advisers for existing businesses so may be a good starting point for anyone
contemplating starting out.
One Loughborough based firm of accountants, Central Business Services
(www.centralbusiness.co.uk), not only gives a free initial consultation but has produced
an introductory guide called "Starting Your Business" which can be found on their
website. They are also happy to receive email queries and questions which they will
endeavour to answer as fully as possible.
“”Losing a job because of the recession may turn out to be good news for some budding
entrepreneurs.”” There are many people with good ideas for a business who have been
reluctant to take the plunge because of the security of a good job, possibly reinforced by
family commitments. If they’ve lost their job, there will be nothing to lose and, if they take
the opportunity with enthusiasm and determination, they could easily become the Alan
Sugar or Richard Branson of the next generation. May they be successful and help end
the recession sooner, rather than later.