Two women have set up a successful business after being made redundant from their jobs at Northern Rock.
Monique Ewart and Maureen Lindberg started their own resources consultancy a year ago after losing their positions at the bank, the Journal reports.
The company, PPM, has grown over the 12 months and they are now looking to move to bigger offices.
It will be relocating from Newcastle to the Quasrus Centre in West Boldon and the pair are also hiring their first member of staff.
Ms Ewart said that they "never imagined" the company would be successful in such a short space of time.
"The business has gone from strength to strength and we are looking forward to forging links with organisations across south Tyneside," she told the newspaper.
It recently signed a deal with the south Tyneside Manufacturing Forum and its manager John Wood stated that it is "great news" firms are setting up in the area.
"We welcome PPM to the borough," he commented, adding that it is good to see young professionals that are using their skills in employment law in order to "support the business community".
Another person who has seen success with their own company after being made redundant is Phil Gedge.
He told the Daily Mirror that he set up a firm selling Christmas crackers after losing his job at BT six years ago.
His operation now makes tens of thousands of the items every year and sells the products to shops such as Harvey Nichols.
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