Written evidence submitted by David Yates (Managing Director at DYCE Engineering Services Ltd)
I am a small business owner who has been left out of income support schemes and I urgently need your help.
My Company DYCE Engineering Services Ltd based in Wakefield, West Yorkshire has been in operation for around 5 years and until this outbreak we have had a full order book, since the lock down I have not been able to bill a single hour of work as the projects on which I was working have been stopped. I work alone but when busy do take on additional contractors. As my business is reliant on manufacturing industries investing in future expansion projects I think this will be a very difficult 6-12 months or so and I am uncertain whether my company (and therefore my only source of income) will survive without government assistance.
I am supporting the #ForgottenLtd campaign, which represents directors of small limited companies who are not eligible for self-employment income support.
I am asking for the Treasury to increase the support to small limited companies and put us on an equal footing with the self-employed.
Taking on debt to support our livelihoods isn’t an option. Without rapid assistance, many of us will go under – costing jobs today and crucially those we could have created in the future.
I am calling on the government to immediately protect our incomes by extending SEISS to encompass small limited company directors based on all income for the last 3 years capped at £2,500. To include PAYE (except where already furloughed), dividends and/or income classed as repayments to a director's loan for companies not in profit.
We would also ask that you to allow furloughed directors to continue to work to support their businesses
If risk-takers, innovators, creators, and entrepreneurs are not supported now, how can we save 5.8 million small businesses and the livelihoods of 7.5 million employees?
Please correct these flaws in the support scheme.