CAB - Citizens Advice: Thousands of self-employed seek debt advice
12 May 2014 12:47 PM
Debt makes up a third of the problems that self-employed
people need help with from Citizens Advice Bureaux up and down the
country.
Sixty percent of those seeking help have turned to
credit cards, unsecured personal loans and overdrafts in an attempt to keep
their businesses afloat.
Citizens Advice is highlighting these findings as the
economy reaches a record number of self-employed workers.
Gillian Guy, Chief Executive, Citizens Advice
said:
“Many people working for themselves are seeing
their efforts unravelled by debt.
“Self-employment can be a positive route back into
work, but people need to assess the risks when starting out on their own. With
thousands of business owners coming to Citizens Advice each year with debt
problems from companies they've built up and invested in, it is clear that
for some people self-employment is not offering financial
security.
"People are desperately turning to personal credit
to keep their companies afloat. Banks must start listening to those small and
medium sized businesses that drive the economy and help them with the vital
support they need."
Citizens Advice
Notes to editors:
- This year the Citizens Advice service celebrates its
75th anniversary. We’ve planned a year of activity running from January
to December 2014. Contact the press office to find out more.
- The
Citizens Advice service comprises a network of local bureaux, all of which are
independent charities, the Citizens Advice consumer service and national
charity Citizens Advice. Together we help people resolve their money, legal and
other problems by providing information and advice and by influencing
policymakers. For more see the Citizens Advice website.
- The
advice provided by the Citizens Advice service is free, independent,
confidential, and impartial, and available to everyone regardless of race,
gender, disability, sexual orientation, religion, age or
nationality.
- To
find your local bureau in England and Wales, visit www.citizensadvice.org.uk. You can
also get advice online atwww.adviceguide.org.uk
- You
can get consumer advice from the Citizens Advice consumer service on 08454 04
05 06 or 08454 04 05 05 for Welsh language speakers
- Citizens Advice Bureaux in England and Wales advised 2.1
million clients on 6.6 million problems from April 2012 to March 2013. For full
2012/2013 service statistics see our quarterly publication Advice trends
- Citizens Advice service staff are supported by more than
22,000 trained volunteers, working at over 3,000 service outlets across England
and Wales.