Ever fancied striking out and setting up your own company? You could get mentoring and an allowance to help you get things going through the New Enterprise Allowance (NEA).
You’ll need to be receiving certain benefits and have a business idea that could work.
On the gov.uk website you can take a look at the inspiring journeys of other budding entrepreneurs going from being out of work to becoming their own boss with the support of NEA.
Get started with NEA
Speak to your Jobcentre Plus work coach – they will explain how NEA could help you.
You may be eligible if you’re over 18 and either:
- you or your partner get Universal Credit, Jobseeker’s Allowance or Employment and Support Allowance
- you get Income Support and are a lone parent or have a disability or health condition
What you’ll get
You’ll get a mentor who’ll give you advice and support to help you set up your business and start to trade.
Once you’ve made a business plan that your mentor has approved, you:
- may get a weekly allowance worth up to £1,274 over 26 weeks
- can apply for a loan to help with start-up costs
To check if you’re eligible for New Enterprise Allowance, contact your work coach through your Universal Credit online account.
If you’re receiving Universal Credit, it can continue to support you if you set up your own business. If you’re regarded as being gainfully self-employed you will not be expected to look, or be available, for other work. This will help you to concentrate on making your business a success.
Read more about Universal Credit and self-employment.