Since the recent recession, well over a million people have made the move to become self-employed.
It seems likely that redundancies and the lack of permanent jobs have forced more people to work for themselves. But with an increasing number of calls from the self-employed, we’re concerned about the dangers of people supporting their businesses with personal borrowing.
Keep it separate
Protect yourself and your family by keeping business and personal finances separate. Keep your finances clear and simple by making sure you use a different bank account for your business dealings.
It can be tempting to support your business through troubled times by taking out personal loans and borrowing on credit cards. At a time when incomes are being squeezed, this can make meeting debt repayments extremely difficult.
Helpline
These are tough economic times, but remember, we are here to help. As the leading national debt advice charity, we are dedicated to providing free confidential and impartial debt advice. We can help with both business budgeting and personal debt troubles.
Our freephone helpline is open from 8am to 8pm Monday to Friday – call 0800 138 1111 for the best advice on solving your debt crisis.
Remember, the earlier you get in touch the sooner we’ll be able to get you back on track.