Nearly four in ten business owners say that political parties are unconcerned about the debt problems of small and medium enterprises (SME). Three quarters of those questioned think that the government haven’t done enough to help SMEs get through the recession, leading a number of sole traders to seek debt advice. Many of those plunged into debt have taken out Individual Voluntary Arrangements (IVA), which can help people with more than £15000 of debt. One benefit of an IVA is that it doesn’t mean the end for the venture, as it can help turn a sole traders business around into profitability again. Three in ten business owners also told uSwitch.com that cutting red tape to make British firms more competitive was vital.
Sole trader debt ignored by MPs
April 29, 2010 By
