Starting a business after being made redundant

Interview with...

Ann Macaulay
Age:
Undisclosed
CV:
Made redundant by Thomas Cook in 2008
Business name:
Undisclosed
Goods/services:
Childcare
Location:
Undisclosed
Trading for:
One year
Woman with children in nursery

 

Sally Grant: Why did you decide to become an entrepreneur rather than apply for another job?

Ann Maculay: When I was made redundant from Thomas Cook in October 2008 I just thought ‘enough is enough, I’m not wasting my time applying for another job.

When you buy a franchise you're still working for someone else so it wasn't right for me, but for others it's a good investment as there's less risk

I had some money from my redundancy package and felt I needed to take control of the situation by putting all my effort and my redundancy payout into starting my own business.

SG: Did you seek advice?

Business Link offered me a wide range of courses covering everything I needed to know about running my own business.

They helped me gain funding and advised me on how I could invest my redundancy payment in the business.

Doing the courses actually opened my eyes to many avenues I’d never thought of, like buying a franchise or an existing childcare business.

SG: Did you not consider buying a childcare franchise?

AM: When you buy a franchise you’re still working for someone else, so for me it wasn’t right.

But for some people it could be a good investment for their redundancy package as there’s less risk, and a complete blueprint to follow without the headache of the start-up phase.

SG: Did you think about starting any other business than a childcare service?

AM: No, starting a childcare service suits me – it’s what I was always supposed to do.

I’m passionate about children, being a parent myself, and I’ve always enjoyed interacting with children – being around them makes me feel fulfilled.

Doing the Business Link courses helped me get the necessary training and cover the legal aspect of what’s required when working with children.

SG: Five months into running your own business, how have you found life after full-time employment?

AM: I’ve been consumed by the whole process.

Attending training courses, meeting other enterprising women at networking events, I’ve been busy, very busy.

It is tiring but at the same time incredibly motivating and rewarding – I haven’t once felt alone.

 

1 comment about this article

comment by Mike Booty
A most unusual offer! I was made redundant in January 1988, started my own one person business and now at 72, want to retire. If you are around 50, have been made redundant and feel the prospects of future self employment are impossible, you may well be wrong! I have proven it can be successful subject to certain criteria. If you are interested and have a technical electrical/electronic background, please contact me for further details.

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