Any sole traders on here?

I'm a self employed sole trader, work from home, do not pay any business rates and do not have business insurance.
My customers have all but disappeared and my income has too.
In the new finance arrangements and those "still under consideration" have you wondered if and how we might apply for help if our money dries up. Employed people are covered, we are in a vague nebulous area.

 

I wish you the absolute best, mate.

I hope you and everybody else are able to ride this out to the other side and come back stronger than ever, but I'm sure that seems like a million miles away right now.

These really are unprecedented times. There's no blueprint to follow here.

 

I’m in the same boat, got two businesses ones a partnership other sole trader, I’ve got vehicles on finance and if the work stops I hope to god the finance companies will give me a holiday period, I’ve got some cash for a ‘rainy day’ but it won’t last forever.

 

Yes mate I'm an electrician who subcontracts to my brotherIour work has dried up this year especially the last 4weeks people cancelling jobs I'm hoping the mortgage holiday will help but not sure!!

 

I have two businesses, one as a sole trader and one ltd. My sole trader costs nothing to run(from home) so no issues there, the LTD company won’t sustain itself indefinitely, but I’m fortunate to have enough personal money to self sustain if needed.
Not sure if it helps but businesses with little to no collateral can usually go to a bank and get money on a EFG scheme(government insured loan) designed to encourage banks to lend money.
I believe the government have amended/introduced a similar scheme for this, it is a loan which I appreciate not what you was asking for but might help?

 

I’m semi-retired, doing some consultancy work from home, but this has now dried up. My main source of income is pension drawdown, but my fund has taken a massive hit, and therefore my strategy is to live off cash savings for as long as I can in the hope that things get better in a few months time. I’m better off than most in that I don’t have to worry about losing my job, but these are scary times anyway.

 

To all you guys above...I really hope it doesn't last too long and you can all make it through.

 

I was a sole trader a few years ago, I sincerely wish everyone the best over the next few month and hope you all pull through

 

Don't know if you were about to fall under IR35 from April - but that is postponed for a year.

 

I'm going to have to wrap up my business of 16 years, if no help comes within the next 3 months. I have zero projected income, as all events are cancelled, so it's how long I can live off what savings I have. I'll be looking for a job in a week or two, but at 55, I'm not holding out a lot of hope.

 

I take it these loans they've announced wont help?

 

They will lend me £3000 interest free. As base rate is 0.25%, I wouldn't have seen that as a help for 12 months with no income.

 

I've got a small job that needs doing mate if you're interested?

 

I held off signing my new contract on Tuesday which was inside. Glad I did as it was re-issued Outside on Wednesday.

I'm OK thank the Lord but honestly thinking of others at this time and would love to offer help where I can.

 

Sole trader web designer here. Business has even dried up for me, now anxiously watching for updates on what the government is going to do about us.

 

I'm now in isolation as the wife was sent home from work but thanks for the offer mate

 

I'm basically in the same boat. We've got 2 choices close our business of 43 years or take on a 100k loan to tide us over for a few months . It's heart breaking.

 

I have a business partner and the situation we find ourselves in is an absolute nightmare.
Wages to find for 24 staff.
Car hires and office hires to pay.
Spoke to mi brother this morning who is a business accountant and he says things are looking extremely bleak for many - especially for those involved in hospitality.
Mi brother blaming Boris for saying people should stay away from pubs and cafes etc and closing schools.
Pressure on to save old folk - but the younger end in the economy are going to pay dearly for it.

 

I think we all are going to pay for it in various degrees, some certainly more than most especially sole traders and anyone in the leisure and tourism industries.

It is going to be a rough ride this year that's for certain.