Self-employed & Coronavirus

[sir baconface]

whatever you did before will still be there for you to do again.

this is shit, but it will end and we will get through it.

you put yourself in harm’s way for your country. You will get through this.

Cash flow is king.

 

[asgoodasitgets]

That's nice, good on you.

Had a message from a rag mate today, saying he would transfer me some cash. It was a really appreciated gesture, though something in my upbringing will not allow me to say yes.

Was wondering if anyone had found work, or applied for something to get through to June.

Aren’t some folk hiring ?

Tesco’s, Morrison s ,Amazon etc ?
Surely worth a look to keep people ticking over .

 

[birch villa]

I am in real danger of going out of business in the next few months.

I haven't had a penny in sales receipts for two weeks. I'm still doing work for clients but I feel like it's completely worthless as they're not going to be paying for that. I also don't feel right in chasing payments when everyone else is struggling too.

If I furlough myself I'll have no business to come back to anyway so that's pointless.

I'll be OK with bills etc as I get a military pension and the Mrs is currently earning, but I've devoted the 7 years since I left the RAF to building a successful business that will see me OK when it comes to retirement and now I can see it falling down around me. Not sure if I'll have the drive to do it all again when this is all over.

This is soul destroying :'(

Feel for you pal but it sounds like your a survivor good luck

 

[asahartford1]

Aren’t some folk hiring ?

Tesco’s, Morrison s ,Amazon etc ?
Surely worth a look to keep people ticking over .

Yes there are, was just having a look around before jumping into something that might be my last bad decision.

 

[flook]

I'm still doing work for clients but I feel like it's completely worthless as they're not going to be paying for that. I also don't feel right in chasing payments when everyone else is struggling too.
(

Never feel bad for chasing money from people you've done work for, if you've earned it you're due it, there are quite a few clients using this as a reason to delay payment, don't make it easy for them

 

[idahoblues]

Never feel bad for chasing money from people you've done work for, if you've earned it you're due it, there are quite a few clients using this as a reason to delay payment, don't make it easy for them

Agreed

 

[AlgarveBlu]

I am in real danger of going out of business in the next few months.

I haven't had a penny in sales receipts for two weeks. I'm still doing work for clients but I feel like it's completely worthless as they're not going to be paying for that. I also don't feel right in chasing payments when everyone else is struggling too.

If I furlough myself I'll have no business to come back to anyway so that's pointless.

I'll be OK with bills etc as I get a military pension and the Mrs is currently earning, but I've devoted the 7 years since I left the RAF to building a successful business that will see me OK when it comes to retirement and now I can see it falling down around me. Not sure if I'll have the drive to do it all again when this is all over.

This is soul destroying :'(

not sure what line of business you are in but from personal experience having set up in 2005 the 2008 global financial crisis at the time had a significant impact in our profit levels for about 18 months but looking back the efficiency savings and structural changes I implemented in that period more than made up for any lost income in the subsequent 10 years. Glad it happened looking back.

Recessions have a way of weeding out non viable commercial businesses, look at the cheap government business loans as just liquidity to tide you over and if possible make the efficiency savings now and see if the model can be adjusted to other related areas etc - ( naturally depends on your business and model).
Best of luck!

 

[Tuearts right boot]

I am in real danger of going out of business in the next few months.

I haven't had a penny in sales receipts for two weeks. I'm still doing work for clients but I feel like it's completely worthless as they're not going to be paying for that. I also don't feel right in chasing payments when everyone else is struggling too.

If I furlough myself I'll have no business to come back to anyway so that's pointless.

I'll be OK with bills etc as I get a military pension and the Mrs is currently earning, but I've devoted the 7 years since I left the RAF to building a successful business that will see me OK when it comes to retirement and now I can see it falling down around me. Not sure if I'll have the drive to do it all again when this is all over.

This is soul destroying :'(

You'll be fine. If you've spent 7 years on a good business, as another poster mentioned, it'll be be there, or most of it will, when you get back. Last monday, 9.00 I had 70 odd clients, by 12.00 it was decimated, down to 4.......They'll be back....everyone's in the same boat, dont panic, dont do anything silly, stay calm and carry on....you're lucky in so far as you has other income streams.

 

[Hart of the Matter]

I am in real danger of going out of business in the next few months.

I haven't had a penny in sales receipts for two weeks. I'm still doing work for clients but I feel like it's completely worthless as they're not going to be paying for that. I also don't feel right in chasing payments when everyone else is struggling too.

If I furlough myself I'll have no business to come back to anyway so that's pointless.

I'll be OK with bills etc as I get a military pension and the Mrs is currently earning, but I've devoted the 7 years since I left the RAF to building a successful business that will see me OK when it comes to retirement and now I can see it falling down around me. Not sure if I'll have the drive to do it all again when this is all over.

This is soul destroying :'(

Not military but my situation mirrors yours exactly. Future is fragile for sure. Stay strong bud.

 

[Cheesy]

Cheers all :)