A UK-based entrepreneur who once built a successful 7-figure business now claims to have “no money”. Sofia Panwar opened up about the “shame” and “embarrassment” of going from financial stability to relying on government aid in an Instagram video.
“I’m on my way to my Universal Credit meeting. Yes, this is after Forbes. This is after building a 7-figure business,” she said in the video.
“This is after all of that, because my business left me with nothing… I have no money.”
Universal Credit refers to the UK government’s social security welfare benefit. It is a monthly payment provided to help people who are on a low income, out of work or unable to work cover basic living and housing costs. “I think the hardest part isn’t even the financial reality of it. “The embarrassment of people knowing. The voice in your head telling you that you should have it all figured out by now. “There are so many people quietly going through their own version of rock bottom right now. Losing businesses, jobs, relationships, money, confidence, or simply the life they thought they would have. “This chapter is uncomfortable, humbling and sometimes heartbreaking.
It’s the shame that can come with feeling like you’ve gone backwards,” she said. Panwar said that she debated long and hard before posting the truth about her financial situation on social media. For months, she told herself that she would post her ‘comeback’ story online. I can say confidently all of those things are me right now,” she said. But it’s still only a chapter,” she said.
