A government run scheme to give extra help to unemployed people who want to start their own business, through the New Enterprise Allowance (NEA). Participants will get access to a volunteer business mentor who will provide guidance and support as they develop their business plan and through the early months of trading. Once a customer can demonstrate they have a viable business proposition with the potential for growth in the future, they will be able to access financial support. This will consist of:
- a weekly allowance worth £1,274 over 26 weeks, paid at £65 a week for the first 13 weeks and £33 a week for a further 13 weeks, and
- if they need start-up capital, they may also be able to access a loan up to £1,000 to help with their start-up costs.
The total package of support could be worth up to £2,274 to each participant who starts their own business.
NEA is available to Jobseekers Allowance (JSA) customers who have started claiming.
This is Free of Charge to eligible JSA customers.
For more information on this scheme please click this link:- https://www.gov.uk/new-enterprise-allowance