New Enterprise Allowance (NEA)
TEDCO Business Support Ltd delivers the NEA programme (part funded by the European Social Fund) in South Tyneside, North Tyneside and Darlington.
If you are over the age of 18, are unemployed and considering self-employment then NEA could be for you. If this is something you are interested in, there are a couple of steps you can take in order to make a start. Your Job Centre will need to check your eligibility for the programme and then refer you to attend a meeting with a business advisor to assess your business idea.
If this is proven to be the best route for you, a business mentor will be assigned to help you develop a business plan over an eight week period.
If you decide to begin trading after you have completed and had your business plan approved, you will be eligible for a New Enterprise Allowance of:
• £65 per week for 13 weeks of trading
• £33 per week for a further 13 weeks
You will also be given the opportunity to access a start-up loan (subject to terms and conditions) to get your business up and running and you will receive on-going support throughout your first six months of trading to ensure your business gets of to a flying start.
The North East access to finance guide is a useful source, visit www.nea2fguide.co.uk
TEDCO is a member the Cavendish Consortium, a partnership between some of England’s leading enterprise agencies together with the National Enterprise Network.
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Call us 0191 5166102