22 May 2020

6 tips for coping with lockdown if you’re self-employed

6 tips for coping with lockdown if you’re self-employed

Working for yourself can be challenging at the best of times and so right now, with lockdown restrictions all around the world limiting people’s freedom to move about and work, it’s even more difficult for many self-employed workers to keep their businesses running.

There are a few steps you can take to help you out and make your life easier when it comes to keeping yourself in business. Here are six tips to help you cope with the lockdown if you’re self-employed:


Seek government help


Many governments are choosing to help out those who are self-employed by offering furlough payments. If you can secure funds via this scheme, you’ll be able to recapture some of your lost earnings until lockdown measures are eased.


Cut costs where possible


It may seem like an obvious measure to take, but cutting your costs can apply not only to your business but to your entire lifestyle. Simple things like cooking meals from scratch with low-cost ingredients and walking instead of using a petrol-guzzling vehicle can help you to limit your day-to-day spending.


Maintain client relationships


If your business relies on happy customers, make sure you keep up conversations with your client-base. This will remind them of your services and show that you don’t just care about the business they give you, but that you care about them as people as well!


Catch up on admin work


Time at home can be used to get a load of admin work done that you normally wouldn’t have the chance to do. At home you can be productive in getting on top of your accounts, organising work you’ve already done, or sourcing new opportunities.


Prepare for the end of lockdown


The best thing about lockdown is knowing that it won’t last forever. If you’re unable to work right now, you should make sure you’re doing all you can so that you can start where you left off before lockdown was imposed. This could be in the form of learning a new skill, completing an online qualification, or taking orders for when you can work again.


Stay connected with the self-employed community


There’s a whole community of self-employed people out there who have been affected by the lockdown, so try reaching out to them to seek any advice and support you need - they may have discovered some useful ways to keep their business healthy that you haven’t thought of. Lockdown can be a lonely time and we all need as much support as possible, as well as friendly people who understand our problems!

One of the simplest ways of staying connected with your friends and family abroad is by sharing the gift of money with them. Sending money using traditional methods like banks can be costly, and now more than ever you need low, flat fees for your money transfers.

Paysend is an online money transfer platform that lets you send money to loved ones from the comfort of your own home, meaning that you can do this even if you’re in lockdown. What’s more, our low fees and competitive exchange rates mean that even more of your money reaches its destination. Transfer fees with Paysend are just £1 or €1.5 (or equivalent amount).

To get started, head to the App Store or Google Play and download the Paysend app today.