Advice gap leaves self employed in confusion
The fact that the number of self employed individuals is on the rise hasn’t gone unremarked, with the press making much of the news and the government constantly trying to ascertain the reasons and the best way to provide support for those who have chosen to be independent professionals. However, there has been a significant influx of people who are seeking advice on how to make a success of working for themselves, which has drawn attention to a dearth of resources when it comes to providing that level of support.
A number of self employed individuals are seeking advice and guidance on the financial side of running their own businesses, from dealing with paying staff to understanding the intricacies of the VAT system, but there simply aren’t the resources to help them all according to one organisation. Business Debtline, who provide free debt advice and information to businesses which need it, have expressed their concern that many people who are running their own businesses are unable to access the sort of support and guidance that they need. They are also worried that some are only able to access appropriate support when it’s already too late, putting both their business and personal finances at risk.
Claire King, of the Money Advice Trust which runs Business Debtline, has identified certain areas where the number of people contacting the charity and asking for help has spiked dramatically, such as Yorkshire where they are seeing a lot more requests for help. With 377 businesses finding themselves in financial difficulty in the North of the country last year, and a further 476 in the south having trouble.
Ms King is keen for those who are heading towards financial difficulty to have the opportunity to resolve their problems before they become insurmountable, and believes that the best way to do this is through better provision for those who are just starting out on their journey of self employment.
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