Lack of work forcing self employed to sell their vans

WITH the numbers of self-employed people unable to find work swelling in the Balearics, a glut of second-hand vans for sale has hit the market.
A European vehicle watchdog, AutoScout24 reported yesterday that the economic crisis has meant the Islands have witnessed a 20 percent rise in the sale of light commercial vehicles and vans. The same research showed that across Spain 140'000 self-employed people have lost their jobs over the past 12 months resulting in their having to get rid of an asset that was once essential to their work. Between 1st January this year and 15th February, 300'000 self-employed in Spain applied to banks for financial help - only 1'100 were successful. Such groups include small repair businesses, building reform workers, plumbers, electricians, carpenters and building site labourers. Those who are already in possession of aging vehicles are keeping them going to eke out the maximum “life” from them. Other small businesses are finding it more economical to rent vans to avoid long-term costs.