Thanks for all the support guys!
Spoke with the boss and we are now on the same page. There is not enough money in the business to give anyone a pay rise, but we are implementing new marketing this year in the hopes of changing that.
So what this means is, if there is not enough new business by June and it doesn't look like it will improve, then my boss will be looking to sell the business.
We'll be given plenty of notice to search for news jobs or stay on with the new owners so no prob there.
BUT if it all goes well and we do pick up, then there is the chance for me to get a substantial pay rise *cross fingers*
I feel a lot more at peace than I did the other day, so I'm glad there is a resolution for now.