Equal Financial Aid For The Self Employed And Sole Traders
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Micro businesses (with less than 10 employees), sole traders and the self employed will not be helped by the current government support package. Despite the fact that combined; we make up the majority of the workforce and are without a doubt the lifeblood not only of the UK Economy but also the UK spirit.
The majority of the current loan packages on offer do not apply for those who are sole traders, micro ltd companies, freelancers or working from home. Furthermore, the business rate packages only apply to limited companies with physical premises. This is a sweeping oversight.
Despite being well run businesses, most micro-businesses have little or no cash buffer to see them through unprecedented and unforeseeable circumstances like we now see ourselves in as a nation.
These small businesses rely entirely on the work they do each month to provide for themselves, their families and their communities. Many have seen their client base disappear overnight with little physical ability to serve those that remain. If these small, but mighty businesses are to survive and continue to contribute to the UK Economy, they need immediate support to sustain through these devastating times.
The support needed must include;
Easily accessible low or no interest loans that don't require businesses to jump through hoops or require a business degree to complete as this will prevent many from being able to complete the application in a time frame that allows them to remain in business.
A minimum of a 6 month holiday for VAT, corporation tax/tax on business profits payments.
In the interest of national stability, I urge the government to redress this as a matter of urgency. Britain's micro-businesses, freelancers and sole traders are the very bedrock of British Business and need this support now before it is too late.
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