The ForgottenLtd – Small business owners join together and unite by a cause
A message from Jayne Moore, managing director:
Like many of my clients and friends I run a small company, creating employment for a group of talented people and I love coming to work. It’s not all about the money, I probably earn less than you would expect, ask any sole director of a small limited company and they will probably say they earned more working for other people! We are advised by the professionals, accountants and bank managers to take our remuneration in the most ‘tax efficient’ way, meaning that more of the money that we work so hard for stays within the business, to pay those lovely people we employ, so we draw a tiny salary, and top up with dividends from profits made that month. Not that every month we make a profit, but the principle is sound.
Now during this lockdown, I happen to think that the Government made bold and brave decisions in creating income protection schemes like furlough, and once we all campaigned for freelancers income support for self employed, I wanted to pat Chancellor Rishi on the back for a job well done. Until, that is, when I realised I was not included in either regime! So, because I pay my tax annually and they seem to think it’s impossible to discern which income is which, they have deemed to ignore SME business owners and sole directors like myself, despite campaigns like the #ForgottenLtd, who are campaigning hard for those of us being left behind.
What I have found more upsetting about this is the lack of outrage. When my friends, who are freelancers, were forgotten, I campaigned for them, I tweeted, I liked, I signed petitions, but it has not been so forthcoming for those of us in my situation. Perhaps this is following the stories of the super rich owners like Victoria Beckham and Richard Branson using the furlough scheme when they are sitting on personal fortunes and rank on the UK’s rich lists – all of which your average SME does not.
So I am asking for your support, well actually, I am asking for your outrage. Please get behind your boss, your colleague, your friends, your hairdresser, your dog groomer, your local butcher or plumber. It is about those of us who create jobs and make it possible for you to be employed in the job that you do, or provide services that make your life easier. Please be outraged that the only way SME business owners can get income support is to borrow from the bank – now that is outrageous, and Rishi needs to be held accountable, and sort it out.
To sign the petition visit this page.