Was your role one of the 695,000 that was made redundant post Covid-19?

According to a piece written by the Guardian, redundancies rise at the fastest rate since 2009. This has meant that almost a half of those on furlough will not be returning to their previous job.

Receiving notice of redundancy can be a difficult time, particularly in these uncertain times where secure jobs can be hard to come by, and when you find them, are snapped up quickly by the best candidates.

What choices do you have?

Hopefully your redundancy package can give you a little breathing space to truly consider your options. You do spend a lot of time at work, so it’s important that you find the right role and company to work for.

If you have decided that working for someone isn’t what you want to do, why not consider going in to business for yourself?

Working for yourself 

You can throw your redundancy package in to your new business venture and hope for the best. Or you can invest it, in a franchise opportunity.

Franchising is a safer route in to business because the business model is proven, brand is established, and support is on hand for when you need it.

You still get all of the great benefits that you do working for yourself, just that you aren’t by yourself and have all of the great benefits of being part of something bigger.

Financing your new start

If you either you didn’t receive much of a redundancy package, none at all or have spent it, there are still options that you can consider so that you don’t have to go back in to employment.

The UK Government have a start-up loan scheme where you could be eligible to finance funds of up to £25,000.

Also, as a British Franchise Association associate member, most major banks and finance providers will lend (subject to personal status), up to 70% of the total franchise fee.

If you’d like to discuss your options following redundancy, give our franchise sales team a call on 0116 275 9005.