The Independent emphasizes the importance of accessible journalism while noting the financial challenges faced by the self-employed in the UK. A recent survey by the Federation of Small Businesses indicates that many self-employed individuals struggle to secure mortgages, with a quarter reporting difficulties due to their employment status. This financial juggling act often leads to the diversion of funds from business opportunities to cover mortgage payments. The FSB advocates for removing barriers to enhance entrepreneurship, suggesting that changes in this area could stimulate economic growth.
The Federation of Small Businesses has highlighted that removing barriers for the self-employed in accessing mortgages could significantly boost entrepreneurship and stimulate UK economic growth.
A survey of self-employed individuals reveals financial hurdles, with a quarter facing difficulties securing mortgages, impacting both personal finances and business expansion.
Many self-employed entrepreneurs are forced to divert funds towards mortgage repayments, hindering their ability to support or grow their businesses.
The excessive use of personal guarantees for business loans discourages growth and is seen as a significant barrier by the Federation of Small Businesses.
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