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GaryC - I understand that. Nearly 22 years ago I was made redundant and decided that I would not put myself in that position again. I had £1800 redundancy and decided to go into business for myself, first thing I had to do was buy an old banger to get around as previously I had a company car. I then had to train and while I did not have to pay for that, I did live with little or no income for a few months while paying a mortgage and a 2 year old son. My wife did work but as our income had dropped by 2/3rds it was still not easy. I used up all the redundancy money and all that I had saved to do so cope.
Went well at first, started building up my business, then recession hit before I had a chance to rebuild my savings. That was tough, very tough. To use your expression, I bought my job - rather career, hard work, perseverence, sweat and taking some risks, all that led to long-term success.
I wish your lad luck, if he can beg or borrow the £500 it may be the start of something. I assure you, despite the risks, need to find investment, long hours and sheer hard work, it is worthwhile setting yourself up and being your own boss.