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Redundancy has been the topic on many employers and employees' agendas since the advent of the global economic crisis. As companies across all sectors of the world’s economies announce losses and job cuts, entrepreneurship has become one of the most viable and most potentially long term rewarding employment for workers already made redundant by this desperate situation.

Entrepreneurship: The New Buzzword

From small-scale enterprises to large conglomerates and banking institutions such as UBS, Caterpillar, Citigroup and the Carphone Warehouse, companies have been forced to make employees redundant; announcing restructuring strategies and more cost efficient processes in the wake of the global economic crisis. With job security almost nonexistent and the unemployment rates steadily increasing, entrepreneurship is fast becoming the only form of potentially gratifying employment available to employees who suddenly find themselves on the firing line.

Life after Layoffs

For some individuals, being made redundant has allowed them to pursue lifelong dreams that would otherwise have been left unfulfilled. In the Financial Times on May 9th, 2009, in a video series entitled "Life After the City," Business Life portrays a number of people who have become successful entrepreneurs following the unpredictability of the market and the loss of their jobs. One of these is Leann Barber who, following two redundancies, was forced to re-evaluate her options.

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