A taskforce has been set up to help the 1,500 workers made redundant by the collapse of the maker of Tiny PCs.
More than 90% of the firm's workers were made redundant without notice
The group, formed by local authorities, business groups and skills agencies across East Lancashire, will offer advice on job hunting and training.
It hopes that many of the workers who have lost their jobs will soon find other skilled positions.
Granville Technology, which made Tiny and Time computers, collapsed on Wednesday after running out of cash.
Administrators who took over the running of the UK's largest computer manufacturer, based near Burnley, laid off 1,500 of its 1,600 workers.
With unemployment levels in east Lancashire higher than the national average, there are fears that workers could struggle to find new jobs.
However, business support groups believe that despite the scale of the redundancies, they are some causes for optimism.
The Lancashire Economic Partnership - which has organised the taskforce - said skilled workers were in real demand in that part of the county.
Following the closure of the LG Philips television plant near Burnley in December 2003, most of the affected workers found jobs within a relatively short period of time.
"Our biggest issue in East Lancashire is a skills deficit. That's why skilled people do tend to get jobs and do tend to get re-employed," said the Partnership's Nick Briggs.
The Partnership will be working with major employers in the region to identify suitable vacancies for former Granville workers.
It will also help staff who may consider a change of career or setting up their own business.
"With Business Link and other organisations we will be looking at the potential of assisting individuals who want to set up by themselves," Mr Briggs added.
"If there is the need for retraining, that is something we can supply through the group."