I’m desperate. Will run out of money within a few weeks.

[123Holly]

I’m self employed with a shop based business. It’s seasonal and winter is my quiet time.
I usually manage to save up summer money and that keeps me going over the winter. However I had a member of staff that I discovered was stealing heavily in August and fired her. Since then I’ve just been working myself full time and haven’t taken a wage since August.
I already had taken a business loan to help with the bills but that money has ran out.
At home my husbands wage is not enough for us to live off. So I’ve been running up debt on credit cards so pay for essentials at home and for my shop. So now have £4000 on my card.
I don’t think I will be able to find money anywhere else and I don’t want to build up any more card debt. My rent will be due next month and there’s literally no money for it.
I don’t know what to do or where to turn. I’m stuck.
We own our own home (mortgaged) and I’ve said to my husband we might need to sell but he is dead set against it. That would be my last resort as well, as it is our dream home.
I don’t know what to do, and I’ve not been able to sleep well for months.
I’m stuck with the shop as I’m in a rent agreement and the landlord for three years so liable for the rent during that time.

How long would it take the landlord to re let it if vacant? Ie is it a popular location or not? If it might take say 6 months then ask for nil rent (or reduced) for say half that

It’s in quite a popular area. Shops let usually within a few months if the rent is fair. Sometimes quicker.

I make cakes. This is my quietest month. I often hire equipment during the summer.

I break even, but I work from home. A shop front would cripple me.

Can you team up with others in the industry? I'm friends with a MUA and she recommends people to me and the opposite too

It sounds more and more like you want your business to close? Is that wise if you usually make plenty of money over the summer periods? How will you pay off your debts?

Just heard back from the landlord. He is saying i can change the way the rent is being paid. Normally I pay three months in advance. Next three months would have been due end of February, but I can defer it until the end of march and start paying monthly at the end of the month.
So technically not a reduction but spacing it to help with cash flow.

Can you run baking workshops while you are quieter? Even for very small groups so you don't need extra equipment. How about baking for fairs. Cupcakes, traybakes etc to bring in some money. Special offers for those who out down deposits early to get some cash flowing. Really, your existing business model isn't working, so you need to think outside the box. If I'm quiet with sales I advertise like mad on social media and release new products, even different variations of what I already have.

I really feel for you.

In my town, landlords have destroyed huge parts.

If you can get out. Possibly offer half rent til your official date, then do so.

A CCJ is a county court judgement, where they were ordered to make a payment or face punitive action. They took an extra loan on the house, closed the business and managed to keep the house.

Good luck, I hope it gets resolved.

Have you spoken to business debt line?