With some small commerce owners owing more than £100000,money worries have a huge personal cost. Getting expert help is crucial[br]Businesses have long taken on debt in order to expand and grow. Yet what happens whether things don’t go as planned? Trying to deal with unmanageable debt can have an immense personal as well as a professional cost.
The Money Advice Trust has been running the commerce Debtline for 10 years, giving it a strong insight into the debt challenges small businesses face. current figures propose that the number of people contacting the debtline for advice has increased this year. In the first six months of 2015 it if advice to 29244 people, or compared to 42352 for the whole of 2014. The trust says this is partly due to the huge growth of self-employment since the recession. Many small businesses struggle,especially in the early years, and the debtline is increasingly being contacted by self-employed people early on in the life-cycle of their businesses.
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Source: theguardian.com