On 5 October the Secretary of State announced that the Government will give extra help to unemployed people who want to start their own business through the New Enterprise Allowance. Initially the Allowance will be available in those areas which face the greatest unemployment challenge.
The Allowance will be available to Jobseeker Allowance (JSA) customers who have been claiming JSA for more than 6 months.
Customers will get access to a business mentor who will provide guidance and support as they develop their business idea and through the early stages of trading. Once a customer can demonstrate they have a viable business proposition they will be able to claim financial support which will consist of a weekly allowance payable at the same level as their JSA payments for 3 months, and then at half that rate for a further 3 months. And if they need start-up capital, they may also be able access to a loan up to £1,000 to help with their start-up costs.
The total package of support could be worth around £2,000 to each unemployed person who wants to start their own business.
We intend to phase in elements of the Allowance from January 2011, before rolling out the full offer from April 2011.
Copyright © 2025 · All Rights Reserved · Institute of Revenues Rating and Valuation
Warning: Undefined array key "User_id" in /home/irrvnet/public_html/forumalert/inc_footer.php on line 4