One of the consequences of the credit crunch will be sizable lay-offs in the finance and associated sectors.\u00a0 I think the ripples will be felt in terms of redundancies throughout the economy.<\/p>\n
However it will mean that here in Yorkshire I would guess more than 1000 people will be made redundant from some of the large financial employers.\u00a0 This is a rapid acceleration of a process that has been happening anyway for a while now.\u00a0 Big businesses are destroying rather than creating jobs and it is the SME sector that is still creating employment.<\/p>\n
So what does the credit crunch mean for enterprise professionals?\u00a0 Well lots of skilled employees coming into a contracting labour market, with strong work habits, mortgages to pay and redundancy cheques in their hands sounds like a good market place to me.<\/p>\n
I just hope that in planning their outplacement support the banks don’t just commission the usual ‘interview skills’ and ‘CV clinic’ type stuff – but actually help people to consider the potential for self employment and entrepreneurship as well.<\/p>\n