COVID-19 Self-Employed Income Support Scheme survey

COVID-19 Self-Employed Income Support Scheme survey: the results are in

We asked the self-employed community at large how the government’s measures have landed with them.

Unsurprisingly it’s not a pretty picture, and we’re not ready to give up the fight.

The 2,032 responses we’ve had so far confirm that there are two clear problems: millions are missing out on support and for those it does capture, payments need to get out faster.

The biggest problem is that millions are left out of support.

Our survey data suggests that more than 7 in 10 self-employed people will still struggle despite the Government’s Covid-19 support. Of those people:

  • Most are expecting bad times ahead. Only 1 in 10 believe they will be OK without any help from the government, while 9 in 10 believe it’s going to be difficult or that they and their families are at risk.
  • Only 1 in 3 people have enough savings to get through the next 3 months.

There are three main reasons (among others) why people find themselves excluded from the support:

  • Around 3 in 10 people surveyed are new to self-employment so haven’t yet completed a tax return.
  • A further 3 in 10 people surveyed operate as a limited company.
  • Around 2 in 10 surveyed have suffered from the timing of their transition into self-employed work in tax year 2018/2019.

The second biggest problem is the long wait for payouts.

Even those who feel they will benefit from the scheme aren’t out of the woods. Of the people we surveyed who said they would benefit from the current scheme:

  • More than a quarter of those surveyed report they aren’t satisfied with the level of support provided by the government.
  • Nearly 9 in 10 are concerned about waiting until June for the payout.

We recognise that this is a difficult situation. The measures announced so far will go a long way to help some self-employed people get through the months ahead. But the holes in the solution as it stands today are alarming.

So we’re lobbying the government to expand their measures to include more of the people who desperately need support.

Join the campaign here to get involved:

SOURCE: Coconut survey of 2,032 UK self-employed people compiled 27-31 March 2020