New Enterprise Allowance

[BigAl127]

Has anyone recently started up in business via this scheme?

I have recently been accepted onto the mentoring scheme + 7x 1day per week college course, to do my business plan. So was wondring how others may have got on, and any pitfalls to look out for.

 

[businessfunding]

Once you are fully on NEA you will have to re-apply for other benefits such as housing as you have had 'a change of circumstances'. In the cases I have seen these have been reinstated.

The scheme offers:

- access to a mentor
- potentially a £1000 loan for start-up costs.
- Parachute payments from JSA

I haven't come across the college course option, but operators iffer in their structure

Ultimately your business will be as good as the plan an your knowledge/passion, the nea just helps to smooth the transition.

 

[BigAl127]

Thanks for your reply. The course i'm on is SFEDI - Certificate in Creating and Starting Your Business. I have to attend 7 workshops with a Business Support Advisor. During the workhops we will complete activities in a workbook, which we keep at the end of the course. After successfully completing the worksheets, we will achieve a Level 2 Qualification (equivalent to 5 O levels/GCSE, Grades A*-C) in Preparing to Run Your Own Business. The workshops run 1 day per week from 9:30am - 4:30pm.

It's my understanding that at the end of the course, all the information will develop our business plan.

As well as the course, I also have access to my mentor, if I have any problems along the way.

 

[BigAl127]

Looks like no one here has gone into business along this path. Despite government figures showing increasing numbers going via NEA, and the criteria for joining the scheme having been relaxed further.