From kitchen table to a £1m turnover in less than two years

Small business advisory website www.smallbusiness.co.uk recommends anyone thinking of establishing their own company in the wake of a redundancy to find out where they stand financially.

It then recommends identifying what transferable skills you may have that can be used within the new venture before looking at what opportunities may be lie in the chosen field.

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It suggests research to ensure no legal pitfalls that could surround you.