Small Business Struggling

japesy

Hi
I have a small business which has been doing ok but i need more cash. I would be interested in stopping paying myself and getting a part time job to help out.

Can anybody offer advice

I was paying myself 350 a month and getting tax credit top ups,

My company hasn't paid my mileage since it begun so i could start to draw that a little.

I don't want to get in trouble and have always done things properly etc.

The part time job is seasonal and i'll do 20 hours a week at 6.50 ( i will be on the books with them)

Thanks

Richard..........3 kids, mortgage, small loan, if interest rates move i'm in trouble

ciano125

Hi Richard,
Does your business have a premises or do you work from home? If you have a premises, speak to your landlord and tell him you're looking at going bust and ask if he can reduce the rent for a period, there is a strong possibility that he'd rather have some rental income than none at all.

You don't say what line of business you're in - are there any grants you could get that might help you generate more business?

Where do you advertise - can you advertise more effectively?

Can you cut costs?

paulwf

That all seems sensible and straightforward, I don't think you require any advice

BTW feel free to use the boards here of give Business Link a call if you'd like to discuss ways of boosting your turnover. It's amazing how a few changes can significantly increase your profits.