SEISS alert: Self-employed people are fearful of a “independence day” as assistance deadlines approach – why?
As the government distributes its final tranches of coronavirus support, self-employed people will soon be able to file SEISS claims. Despite this, freelancers and small business owners are expected to struggle starting tomorrow, as fears and uncertainties about the UK’s “independence day” persist.
Despite the fact that self-employed people were among the hardest hit by the coronavirus, recent data shows that many freelancers and small businesses are concerned about the economy returning tomorrow. The majority of lockdown limitations will be lifted on July 19, dubbed “freedom day” by many, and this possibility is unsettling many workers.
Simply Company, a small business insurance provider, has conducted a poll of 936 small business owners from around the United Kingdom.
The findings of this poll revealed that SMEs and self-employed people have “mixed sentiments” about independence day.
Over half of those polled (53 percent) believe that social distance restrictions are being eased too quickly, putting them at risk of another lockdown.
Because of the severity of the problem, nearly one-third of small business owners (30%) will maintain social distance and restricted capacity in their operations.
In the face of the coronavirus, the government has chosen to focus more on personal responsibility, and as a result, 47 percent of small business owners believe that the responsibility for a safe unlocking should be shared by enterprises and individuals.
However, a large minority (29 percent) feels the government should provide better guidelines to assist small firms restart securely.
This latest threat, according to Simply Business, comes after a previous analysis revealed that coronavirus is estimated to cost SMEs £126.6 billion in total.
This will most certainly be particularly harmful to the economy as a whole, given the UK now has about six million SMEs, which account for over 99 percent of all firms, 33 percent of employment, and 21% of total turnover.
Simply Business’s UK CEO, Alan Thomas, offered his thoughts on the findings.
“No firm, big or small, has been able to escape the consequences of the Covid-19 pandemic,” Mr Thomas said. Restrictions, lockdowns, and uncertainty over sixteen months were certain to take their toll.
“However, the size of the damage felt by the self-employed is plainly obvious from our latest study, which reveals that Covid-19 would cost SMEs an estimated £126.6 billion, more than double what owners projected a year ago when asked.
“Hopes for small business owners.” Brinkwire Summary News.