Some self-employed people appear to be mixing their personal and business finances together, according to one expert.
Commenting in an article published by Contractor UK, the
Consumer Credit Counselling Service's Geoff Waugh noted that personal borrowing is still being used by a number of business owners at the present time.
Mr Waugh, who acts as a debt advisor for self-employed people at the organisation, stated: "We are still seeing a high number of callers to our advice phone line for the self-employed supporting their business with personal borrowing."
This situation is unlikely to change in the coming months, he went on to suggest in the article, although this may prove unfortunate.
The owners of some small and medium-sized enterprises in the UK may be having to get
credit cards in order to support their firms, it was recently suggested by Edward Rimmer, the Bibby Financial Services UK chief executive.
Posted by Martin Peacock.
