new enterprise allowance

Unemployed Get Help Starting Up in Business

An enterprise scheme to help the long-term unemployed start up in business has been launched by the Government. The New Enterprise Allowance (NEA) initiative is open to anyone who has claimed jobseekers allowance for 26 continuous weeks or more. Under the NEA, participants will get access to a business mentor and, once they develop a viable business plan, financial support. A weekly allowance of £65 for the first 13 weeks is available, followed by £33 for a further 13 weeks. Those taking part will also be able to apply for a loan of up to £1,000 to help with start-up costs. According to the Department for Work and Pensions, the scheme aims to stimulate enterprise and aims to create up to 40,000 new businesses by 2013. Funding will be delivered by local enterprise agencies... »