A thread for direct financial impact of Coronavirus...

[wheresmymojo]

I thought all self-employed, freelancers, people made redundant and similar who are impacted by Coronavirus could gather here to share stories, tips on managing, etc.

I expect the thread to be quiet to begin with but get busier over the coming weeks.

Anyone else already impacted (like me) or seriously worried?

We’re down to our last £500. DH has a business and I’m currently not working but won’t be able to go back to my job if I go bankrupt. One client who is due to pay is on the verge of bankruptcy. All funders are spooked (the business was expecting at least £50k from funding this month alone). We’re left relying on one client to get us through until I go back to work but it’s not clear if they’ll be going ahead with their work. Also my visa is due for renewal. Fanfuckingtastic!

I’ve just been laid off from my pub job. It was dead this weekend & with no sports either, the landlord just cannot afford to pay me . I’m quite scared now for my future 🤬😩

I sell handmade items at craft fairs and fun days etc. Everything’s been cancelled and I’ve got nowhere to sell.
£11 left in my overdraft at the bank and dh’s wages aren’t due til Friday. I bought some food yesterday, but with 5 kids I’m not sure how long it will last.
I’m sure we’ll get through but I’m worried about my dad, as he’s 68 and diabetic and normal colds make it hard for him to catch his breath.

Virgin Atlantic are 'asking' staff to take 8 weeks unpaid leave over the next 3 months. TUI having to make reductions too

Avoid bars, clubs and restaurants - we are buggered

My SE contract has just ended and they have said that they won’t be paying us for the work we’ve done so far
They owe me about £500 and I doubt I will get it as they will probably just fold soon anyway
Luckily my income is just extra but DH is also SE and if he loses his contract it will be difficult

Business at my work hasn't been affected yet. I went to the office today and we had a decent amount of orders, average for this time of year.

My managers sent around a memo warning of potentially laying staff off if business dies down.

I'm worried for my Dad, he is in his 60s, is a security guard but somehow still classed as self employed (not sure how that works but still) and also has a heart condition. There is no option for him to wfh, his wage is essential for the household.

I also work part time teaching in an independent school. I just don't understand how these suggestions are going to work on a practical level, everything is just going round and round in my head....

Self employed with husband and 2 business partners in an aerospace business. Lost all our contractors in the space of a week. The only income we currently have is money owed to us by a client! If we're looking at say 12 weeks of interrupted travel we might be ok! As in we'll scrape enough to pay our mortgages.

We have just sublet our upstairs office and we are gearing up to make 2 people redundant one of whom is pregnant. Feels so awful.

As long as schools are open I'm going back to work as a teacher full time after Easter on a 6 month contract!

2 weeks ago we were looking at a new car. This week one of our emergency plans is to sell our cars (thankfully owned outright) and caravan to release some money!

We moved house last year and have a huge mortgage!! We usually bring home between £5000-8000 a month so the mortgage was reasonable when we got it! My teachers salary will cover mortgage and basic utility only. I left teaching (part time) mainly because of stress and depression. Dreading returning but I have to! So lucky I'm going back to my old school.

So so gutted, my husband in particular has worked his arse off for 7 years building up this business with his partner. We planned so well for brexit.....could have done with a crystal ball!

UH Oh
no non essential travel
Thats our glampingsite and holiday cottage fucked then.
Probably my forest school
And all the courses I run

I REALLY hope the farm is allowed a mortgage break

Oh @NettleTea

we are in a funny position. As an agricultural business we dont pay business rates so we are not going to benefit from the rate reduction. I dont think we will qualify for the small business thing either. I dont know whether as a self employed single person I will be able to apply either (I invoice farm for my work as run FS and courses as an independant)

I dont earn enough to get sick pay and Im not sick anyway (although have an adult child who has cystic fibrosis/diabetes/heart condition so may need to isolate her for 12 weeks)

Its a bit poo

Hi ya checking in .. Dh is in IT and is between contracts so jobless for the past 3 months (first it was Brexit uncertainty, then ir35 rules and now covid) I am so worried as we are living on our savings already. I am self employed with a little handmade jewellery business which was doing alright but have no new orders for the past one month or so. We can manage for a month max. Dh had some interviews this week which they are cancelling . So my hope is dwindling.

We are in the exact same position @Sprayitall - I am your DH in our scenario.

I have no hope of getting any work until later in the summer IMO.

@wheresmymojo I can understand. It’s all hard isn’t it. I have health related qualification infact a PG (PG was gained here but it’s not been included in the list yet as they have rules for a new programmes to be authorised for professional registration only after few years) . Nhs rules are more like catch 22 situation to get back to practice - they say I need to have supervised experience in seeing cases to gain professional registration but without registration no will give me a supervised experience job that I can see cases.

@SexTrainGlue when I heard that Virgin Atlantic staff were being asked to take 8 weeks unpaid leave, I thought "why the hell doesn't Richard Branson put his hand into his deep pockets and help those people out?

If he gave all staff £2,000 each to help them through that 8 week gap, it would be about £17M out of his £5 Billion fortune. He could make a big different and it wouldn't even make a dent in his personal fortune.

Where can I find info on the business grant that has been discussed here? TIA

Self-employed, live alone. My work ground to a halt yesterday with all clients cancelling. God knows when I’ll be able to work again.

My son is a transplant recipient and is on immusuppressants. He works in a small company who don't pay sick pay so if he gets ill or has to stay off he will.only get ssp. His gf is pregnant and now worried and also on zero hrs and they are in the middle of buying their first house.
I'm worried sick.

This “not closing anything” but advising people to stay away /not to go anywhere is not nice. They are not making any suggestions as law - which will deny insurance for businesses.

my house sale was/is due to complete this week the buyers have paid deposits so PRAYING but also can see the solictor closing, I spent all my savings buying to a 21 day completion knowing my sale would follow behind and it is the dream house.
All my own fault, probably have 2 months and then it's living on credit cards and overdrafts

@spayitall I'm IT as well, IR35 was crippling 3 of my 4 clients made blanket assessments I was going to drop them scared of the future possible retrospective impacts I now won't be able to. One I have consulted for on a long term engagement so is very scary.

I am self employed through a limited company. Have retained contract since 2011.

Expect all work to end this week- public sector

Have 3 months in reserve for me (fee earner) and employee- slightly more if 1 of us goes.

i will have to go to no income this week to protect my employee.

After 3 months the business will have to fold

DP is our main breadwinner and has his own business running outdoor activities. His main income, a school, has cancelled and now we are facing ruin. We are certain that the small bits of business he has booked in will cancel and we really don’t have that much of a buffer unless there are mortgage breaks.

I also work in the tourism industry, for a holiday homes business. My boss is in the at risk category though so I’m hoping he will need me for at least a third of my usual hours.

The entire island where I work is tourism based and my village is populated by at least 80% of tourism based workers. I don’t know how we won’t all lose everything.