Directors forgotten

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Company directors overlooked in Sunak’s mini-Budget The Institute of Directors (IoD) have said that small businesses have been overlooked in the Chancellor’s latest stimulus package with no help forthcoming for company directors, who have not been able to receive income support during the pandemic. Jonathan Geldart, of the IoD, said: "A glaring omission throughout this pandemic has been the exclusion of small company directors, many of whom have not been able to access income support. Widening grant schemes could help those who have been left struggling without assistance, and help more firms to re-open." Mike Cherry, chairman of the Federation of Small Businesses, agreed while Gina Broadhurst, of the #ForgottenLtd Campaign for small company directors, added: “The Government’s strategy is premised on businesses remaining solvent, but hundreds of thousands of small business owners employing millions of people have received zero support and are on the verge of collapse. At this rate more businesses will fall, never to be seen again.” Additionally, Andy Chamberlain, of the Association of Independent Professionals and the Self-Employed, said freelancers were “noticeable by their absence” in Rishi Sunak’s statement. He urged the Chancellor to introduce a tapered end to the Self-Employment Income Support Scheme as well as the furlough scheme.

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