The Government might have injected some festive cheer into the families of the nation, but the recent Spending Review unveiled by the Chancellor earlier this week did not shower the same festive spirit on small businesses.
In the Conservative party’s 2019 manifesto, small and family businesses were decribed as “the backbone of the economy”, making Britain “immeasurably stronger for their contribution” and historically, the Conservative party has always championed entrepreneurship, so it is increasingly baffling why they are repeatedly refusing to help, or even acknowledge, the estimated three million self-employed freelancers and limited company directors who have been largely excluded from their coronavirus support schemes.
A recent report in the Financial Times unveiled how the impact of the coronavirus and national lockdowns has ravaged small firms and reports, from a survey by Forgotten Limited, that since the onset of the pandemic, 70 per cent of small limited companies have not received any government support.
Predictions from FL members say that even if they make it to Christmas, 93 per cent doubted their small limited companies would still be trading by Easter.
Approximately two million directors of small companies failed to qualify because they opted to pay themselves a typically small PAYE salary, and a variable dividend, depending on their annual profits, which is a perfectly legitimate, widely used structure.
ExcludedUK is a non profit grassroots NGO founded to provide a platform for those denied fair and adequate financial support from the Governments COVID-19 Support schemes since the pandemic began in March. With a community of over 60,000 members across all industries, age groups and regions, we estimate that three million UK tax payers have been excluded from the same support as others, which has lead to thousands of people losing their livelihoods, careers, and homes, and sadly, for some, their lives.
ExcludedUK has been fundraising to provide urgent help and support for those affected in the forms of business and career advice, debt support and 121 counselling sessions within 48 hours. Please find more information on our website www.excludeduk.org.