Coronavirus Impact on Self-Employed

Slurm

Hello Everybody, 

I am sure I am not the only one in this position, so I would like to start a discussion about how to survive the coming weeks and months.
I am a freelance photographer, and the problem is very simple:
I don't have Coronavirus. I have no idea if my clients have it. What I do know is that ALL the work has stopped. Nobody wants to risk doing anything. 
Meanwhile, there is no pause button on all my expenses and living costs, and I don't have much savings. I live with what is normally a fairly comfortable margin, but my personal and business equity relative to the turnover is not much.
I've never claimed any sort of benefits, but after seeing some mention of support for small businesses in the budget, I have taken a brief look at what might be available. I'm confused though - The system seems super hard to navigate and slow to pay. It seems universal credit is suggested, but seems to be an insignificant amount of money that will take 6 weeks to even begin?

I am pretty scared that this lull might basically ruin my life. As I guess many others are too. So if anyone has any tips on useful benefit / support schemes, or any other strategy, I would really welcome any pointers. 

Savvy_Sue

Slurm said:

I don't have Coronavirus. 

Correction: you don't have any symptoms which suggest you might have Coronavirus. You probably don't have any major risk factors (recent travel to a hotspot, close friends or relatives suffering etc), but you have absolutely no idea who you've mixed with lately who MIGHT have been spreading it. 

To move back to your question though. On another thread, I suggested the need for lateral thinking. Apart from your skill as a photographer, what else might you be able to do or sell? If you specialise in event photography, could you branch out and take photos people might buy? Monetise a blog? Honestly, I don't know, and to a certain extent I know I'm clutching at straws on your behalf, but ... diversification has got to happen, I feel. 

Savvy_Sue

BTW, Money Box on Radio 4 this evening covered this topic. Worth a listen. 

Mistral001

Many self-employed people who went through the Credit Crunch of 2008, faced the OP's situation. So this is not an entirely new situation.  I saw my business dry up to being busy to having zero work.  It was tough but I managed by diversifying and going on Tax Credits and taking a small pension earlier.  Many people in my profession relied on their  spouse's income or took on salaried jobs outside of their profession.  

It is unlikely that the public sector is going to be hit financially by the virus.  In fact it will probably grow.  So perhaps you could try to aim at getting work from people who are employed in the public sector.   Also think of what will happen after the virus has run its course.   Where will you want to be then?   

pleasedelete

I am a public sector contractor- the work will totally stop on Friday.