Firms like mine left high and dry
I HAVE been in communication with a number of other small business owners in relation to support for businesses affected by the current restrictions on trade. While the offers of assistance seem many and varied, there are gaps in the help available. Only businesses trading from a business property and paying business rates have been included in the criteria for a grant. My business premises are my laptop and mobile phone through which I have been running my events business since 2004. Three weeks ago, I had three revenue streams. Now, through no fault of mine, I have none, with all the associated financial implications for my business and me. This crisis could not have come at a worse time. March and April mark the start of a series of events running through to October and November, with one every three or four weeks. I have paid out money in advance for venues, plus the cost incurred in months of marketing and promotion. I survived the financial crash a decade ago when the bank pulled the rug from under me after it deemed my business to be high risk. The fact I didn’t owe them a penny made no difference. Despite that I relaunched and kept earning a living. Now, without a grant similar to that offered to micro and small and medium enterprises with premises, I won’t be able to survive the next two or three months. With a grant, I could start again in July or August, run the remaining events and hopefully thrive for years to come. Without it, I may end up losing my home and car. There must be thousands like me without businessrated premises, such as plumbers and electricians who use a phone, van and not much else. It’s not the virus that’s in danger of putting me out of business, but government policies. I hope the promise is kept that no one will suffer by doing the right thing.
STEVE VINCE, Neyland, Pembs.
JUST because staff are furloughed does not mean that businesses are not running at a loss. With huge costs such as business rates, ongoing capital expenditure, IT costs and insurance, furlough only means that you are slowing down how quickly most businesses are going to go bankrupt. We need a plan for when we can all go back to work because half of the economy could be bankrupt in ten weeks.
DEAN HAMMOND, Welshpool, Powys.
IT’S understandable that we are focusing on the coronavirus pandemic and the effect on people and the NHS. However, we should also be talking about and analysing the collateral damage to the economy and its impact on businesses once we get back to normal. I fear this will be our next big problem.
SAEEDA BENSON, London SW19.