A business set up after its managing director was made redundant is doing well in the recession.
Clint Canning started Panacea Inventory after he lost his job at a property fund manager in Mayfair, Easier Property reports.
"One day I came into the office to find all of the desks gone and I was redundant," he said, but added that forming his own company was something he had been thinking about "for a while".
The business produces reports for people who rent out houses and flats, keeping them up-to-date on what furniture is included in each home, as well as the condition of items such as light switches and radiators.
Mr Canning said that he saw a gap in the market for the service while he was in his old job, as he was often being asked to recommend a service that could keep track of inventories.
"It became clear that this type of work was being done by retired estate agents, carrying out a couple of inventories a week," he said, adding that there was an opportunity to "lead the way" by setting up a "really professional" business.
And his decision has paid off, because demand for Panacea's services have been strong in the first nine months it has been running.
The company has provided 1,000 reports to clients in London since setting up in April 2009.
A graphic designer from North Shields is another person who has successfully started a firm after being made redundant.
According to nebuisness.co.uk, David Hindmarch launched an online firm offering photo canvas gifts after he lost his job, getting help from Business Link in the process.
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