From Redundancy at 17 to Million-Pound Business: How You Can Too

Getting made redundant is tough—especially when you’re just 17. But one Liverpool entrepreneur has turned that setback into a remarkable success story, and his journey offers real lessons for anyone facing job loss or struggling to find their way.

Mike Welch was made redundant as a teenager, but instead of giving up, he spotted an opportunity. He started selling tyres online and built that small idea into a multi-million-pound business. Now, he’s launching a new venture and using his story to send a positive message to young people who feel left behind by the job market.

Why this matters to you

Redundancy can feel like the end of the world, especially if you’re young and early in your career. But Welch’s experience shows that setbacks can become springboards. His story is a reminder that entrepreneurship doesn’t always require formal qualifications, massive capital, or connections—sometimes it just needs spotting what people need and delivering it.

If you’ve been made redundant, you’re entitled to statutory redundancy pay (depending on your length of service) and access to support through the Job Centre Plus. You may also qualify for Universal Credit or other benefits while you’re looking for work. But like Welch, some people use redundancy as a chance to start something new.

What you can do

If you’re considering starting a business, take time to plan properly. Research your market, understand your costs, and build a realistic budget. The Government’s Business Support Finder (businesssupport.gov.uk) offers free advice and funding information.

If you’ve been made redundant and aren’t sure about your next steps, the Citizens Advice Bureau and StepChange Debt Charity both offer free, impartial guidance. The Job Centre Plus can also point you towards training schemes and support.

Welch’s journey isn’t typical—building a multi-million-pound business takes hard work, luck, and timing. But his message is clear: redundancy doesn’t have to be the end. Sometimes, it’s the beginning.