Time to think anew?

A friend of mine has recently had a 10 per cent cut in his wages, along with everyone else in his company. It's a trend of the current recession. He's not very happy about it, and who can blame him.

Looking from the other side of the fence the company would argue that it's better that everyone takes a pay cut, rather than making people redundant. That may be true, but everyone who takes the cut will find it tough to bear in their own way, whatever their circumstances.

My friend works shifts - two days on, two days off - 12 hour shifts. I reckon he's in a great position to think about starting his own business. Given his shift pattern, he will have plenty of time on his days off to organise his business. Also, it is best to try out a new business of your own when you're still in employment.

Without much in the way of savings, and without the income (since the cut) to finance a loan comfortably, he will be starting from a standing position, without doubt.

However, it is a great opportunity to make a start, with some back-up (his current job) in place. I hope he gives it a shot.