Do you own a small business that's totally closed? How the hell are you managing?

[EloiseTheFirst]

I own a small business but am allowed to remain partly open. We're turning over about 40% of normal and not even covering our overheads. I'm very very worried.

If we'd had to close completely for weeks on end, I don't know if we'd be able to reopen again.

If you've had to close completely (eg hairdressers), what will you do? How many weeks will you be able to stay completely closed before you go totally under?

Well I'm glad nobody else is struggling like me then.

That sounds incredibly stressful. I have no direct experience but I know a local cafe is trying to apply for some sort of local authority grant to tide them over. I hope there is something in place for small businesses. Good luck @EloiseTheFirst

My husband business is reliant on pubs being open...so has been non existent...we have some cash put aside and hope it will be enough to see us through. Have taken the mortgage payments holidays which helps and my job is not affected at all.

If pubs really don't open until Christmas I'm not sure how we will get though but I just keep reminding myself there are people in worse situations than us.

Mine is closed. But hoping to reopen as some people start to go back to work.

Ours is based on transporting people to various events eg wedding, races, football and largely on school trips, we are in complete shut down so not sure how we’re coming to come out of this with, loans to pay too and people we employ need paying ☹️

We closed for a couple of weeks. We would have been ok as have a house deposit money that we could use to survive (not entitled to any gov help) but we are working again now so haven't had to touch it thankfully.

I live in the US. My family is supported by our own event photography business. Obviously, all our events have been postponed and the earliest event is in August.

We have savings (it was meant to be the down payment for a house) but it will only last another four weeks. We applied for a loan from the Small Business Administration (SBA) but they ran out of money within the first week. There has been approval for more money to be made available but we were told not to hold our breath as it's unlikely we will get one.

We have also applied for assistance from the government's unemployment insurance but it's so backlogged that we are in a sort of queue. I believe our case has just been reviewed and if we do qualify (which we should), we would get our first check by the first week of May. In the meantime, I have applied for every job that I can but it's tough out there since so many are also in the same predicament.

My husband started the business in 2016 as a way to supplement his income so we could buy our own home and fund our retirement. In 2017, he lost his job and this business had to become our sole source of income as he couldn't find work in his field. So, this CV-19 has thrown us AGAIN. But we will do whatever we can to build back up again. We don't have much of a choice so we have to.

Hang on in there, OP. It is awful for small businesses. Are you able to get any support or have you from your LA?

Although the government are giving loans,it still all needs paying back with interest at some point so a lot of businesses are choosing to close rather than take on the extra debt because there’s no way of knowing when businesses can resume

Have you spoke to your local council? I don't own a small business but I work for one that's had to close and our council has been issuing 5 figure grants to local small businesses.

Savings
a bit rough for those without them

I had to close down and refund everyone when social distancing was announced. After things settled a bit I took some of my services online but it's very quiet and that won't make enough money. I fall through the gaps due to being a new and very small business and so am not entitled to UC or any of the grants. I don't think I'll be able to build it up any time soon as I'm assuming social distancing will need to remain in place for many, many months. We are managing on DH wage (for now) and hoping his business can keep going. I'm very worried about the future.

I have a retail shop, a small production business and two holiday lets (refunded up til end June). I only have casual staff (when needed) as we were hammered in the last recession and the initial business shrank so much it has been reinvented to these 4 fragmented parts. I have no borrowings other than a small mortgage. I save everything I can. I also have children, the older of whom work in (now closed) local businesses during weekends and holidays for their pocket money and future college money. They are worried about their own funds as well as lack of schooling.

This is all because we were left high and dry in 2008. Not everyone was, it was worse than this (so far). It was 2012 before we could afford one week away from work. 2018 before we had a family holiday. We were utterly wrung out by that recession and so I have done my best to make us recession proof. I thought tourism was a given...🤣 how wrong was I?! However because of my savings and having no debt we will survive for a year. And I also work in a job (25 hours a week) though that business will also be affected by this period but at least if it does survive I will have a small steady income.

Btw I live in a Cornwall-type area. The type of area that largely depends on tourism. These are the sort of lengths necessary to live in places like this so when incomers complain about our reticence in having tourists during this period or doubt about our reopening (we will, We hope!) This is the effort it can take to live in a place like this.

I've lost 100% of my income dh has lost 70% of his.
We are coping, just about, but are able to live frugally.
We aren't entitled to anything more but already have tax credit and dh is still able to teach online.
There is no way it will improve for us anytime soon as we are musician/ entertainer and provider of services for entertainment venues.
We were on the southern part of our latest tour in Devon, the night before lockdown. By the time we reached our home in the NW our diary was empty, one notification after the other of venues/individuals cancelling. In over 30 years in the industry through all sorts of recessions and major incidences I've never experienced the likes.

I run a small cleaning business. I'm living off savings. I am banking on my student accommodation work over the summer. If I don't get that I'll be screwed.

@EloiseTheFirst I have a small hair salon and I've been closed since March 14th. I've been lucky in that my landlord is not charging me rent while I'm closed. I'm getting €350 per week in social welfare(I'm Irish, In Ireland) and Dh is still working. If it goes on any longer I'll give up my premises and set up at home ready for when this is all over.

I have a cattery, was fully booked but now empty and bookings cancelled until June. Lots already cancelled for rest of the year and fully expect more to cancel.
I’m fortunate as no rent or mortgage on business and no staff so no ongoing expenses, though obv no income either. Luckily DH unaffected so better position than many .
Not sure what we would do otherwise tbh

We have a fairly new, small events business, not entitled to any grants or help as have no premises and don't turn over enough to pay tax. Thankfully my full-time job has furloughed me on full pay. My disabled DH had his Pip stopped yesterday as well, so that was nice.

I have (had) a small thriving business, fully booked through the summer, waiting list, the lot.
All gone, from the week that the schools closed in Ireland.
All clients cancelled, can't open the doors, due to the nature of what I do.

3 DC, single parent, reliant on the govt Covid payment.
I am v v lucky, that I also subcontract to another business, that does some govt work, and that will resume in May. So, I will have some sort of income, tho' not as much as the govt subsidy. But, I have to get back to work, to have any hope of coming out of this.

I am doing online training- hope to have an additional qualification under my belt by the end of this month. Have also done training with the Enterprise Office which I never "had time for" before.

I have a business that supports the motor industry. Our sales are down 90%. Luckily we have a cash buffer and we have negotiated a rent holiday, furloughed 3/4 staff, kept our overheads really really low. We can keep going like this, income just covering outgoings until about August.
When things open up we should be fine though as we were thriving in February. We just need other people to get back to work!

This is so bleak for us all, and is awful to read.
But we must know that there are lots of us out there and my heart goes out to you all.
We are all so dependant on each other too.

In all honestly I don't know how we will cope, husband was self employed so bookings gone to 0 since march 9th:(

Living on just tax credits and child benefit and don't know where the next housing payment, insurance payments or phone payments are coming from.

Its my son's birthday on the 7th and can't even get him anything. Feeling total shit about life right now which is stupid because there's people that are dying.

We could open but can’t get materials so haven’t. We have premises Though so were eligible for the grant which at least will cover the rent. We will be ok for a few more weeks but after that who knows.

You all have my sympathies. It's truly awful.