Skip to main content
Guiding you to a better future

Search

For a successful business, you need a viable business idea, the skills to make it work and the funding. Discover whether your idea has what it takes.

Forming your business correctly is essential to ensure you are protected and you comply with the rules. Learn how to set up your business.

It is likely you will need funding to start your business unless you have your own money. Discover some of the main sources of start up funding.

Businesses and individuals must account for and pay various taxes. Understand your tax obligations and how to file, account and pay any taxes you owe.

Businesses are required to comply with a wide range of business laws. We introduce the main rules and regulations you must comply with.

Learn why business planning is an essential exercise if your business is to start and grow successfully, attract funding or target new markets.

Marketing matters. It drives sales and helps promote your brand and products. Discover how to market your business and reach your target customers.

Some businesses need a high street location whilst others can be run from home. Understand the key factors from cost to location, size to security.

Your employees can your biggest asset. They can also be your biggest challenge. We explain how to recruitment and manage staff successfully.

It is likely your business could not function without some form of IT. Learn how to specify, buy, maintain and secure your business IT.

Few businesses manage the leap from start up to high-growth business. Learn what it takes to scale up and take your business to the next level.

Freelancers face debt crisis warns IPSE

5 October 2021

New research has highlighted the plight of freelance workers that did not qualify for government support during the pandemic.

The latest survey by the Association of Independent Professionals and the Self-Employed (IPSE) has found that many freelancers had to use savings, overdrafts and credit card debt just to get by during the COVID-19 pandemic.

The findings suggest that there is a "debt crisis" among freelancers who were excluded from support. The poll results show that two out of three freelancers' businesses (67%) were negatively affected by the pandemic and that 47% saw a decrease of over 40% in turnover.

As a result, many freelancers had to dip into savings or even borrow money to make ends meet:

  • 27% of freelancers used up all their savings during the pandemic;
  • 23% of freelancers took on credit card debt to get by;
  • 14% used their overdrafts.

Andy Chamberlain, director of policy at IPSE, said: "While the Self-Employment Income Support Scheme has been a vital lifeline for many self-employed people, it cannot be ignored that many others were unable to access it. There were approximately 1.5 million newly self-employed people, limited company directors and others who were excluded.

"These excluded groups have now been driven into a debt crisis and we urge government to look at the situation and consider debt relief measures to get these freelancers back on their feet … the financial consequences of the pandemic - and of the exclusion of so many freelancers from support - will be felt for years to come."

He added: "We also urge government to plan now for better support if there are renewed restrictions this winter. The exclusion debacle was a disaster for millions of freelancers and others across the country: this must not happen again."

Written by Rachel Miller.

Stay up-to-date with business advice and news

Sign up to this lively and colourful newsletter for new and more established small businesses.

Contact us

Make an enquiry