Coronavirus has hit everyone incredibly hard, including the five million people who are in self-employment and whose jobs could be affected by the outbreak.
This is why the government has recently announced self-employed people – including those who typically hire Liverpool office space to conduct their work or meet clients – a grant to support them during this difficult time.
Chancellor of the exchequer Rishi Sunak has revealed the self-employed could receive 80 per cent of their profits, up to the value of £2,500 a month, for three months.
Mr Sunak stated: “The package for the self-employed I’ve outlined today is one of the most generous in the world that has been announced so far. It targets support to those who need help most, offering the self-employed the same level of support as those in work.”
The Self-Employed Income Support Scheme falls in line with the Coronavirus Job Retention Scheme, which was revealed by the government last week. This allows employees who are no longer allowed to work as a result of the crisis to receive up to £2,500 a month in wages.
Details of the support package for self-employed people revealed it will cover three months until May and will be paid at the beginning of the following month.
It is open to people who had a trading profit of less than £50,000 in 2018-19, or gained an average trading profit of below this from 2016-17, 2017-18 and 2018-19.
This includes cleaners, hairdressers, musicians, tradesmen and freelancers.
In response to this, director-general of the Confederation of British Industry Dame Carolyn Fairbairn stated this will be a big relief to self-employed people.
“These new measures will provide essential support to those facing significant uncertainty and loss of income,” she went on to say.