New Enterprise Allowance

TEDCO Business Support Ltd delivers the NEA programme in South Tyneside, North Tyneside and Darlington. The New Enterprise Allowance Phase 2 (NEA2) is a programme part-funded by the European Social Fund.

It’s aimed at supporting eligible claimants who wish to start or develop their own business.

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.

our 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

Our Services

Start

At TEDCO we successfully deliver a range of start-up support programmes designed to take ideas and turn them into successful enterprises and business start-ups in the region.

Get Started

Grow

One of TEDCO’s key objectives is to provide individuals and businesses with the ambition to expand, the advice and necessary tools to scale-up and grow their business.    

Get Started

Fund

As the key delivery partner for Virgin StartUp in the North East, we have helped over 300 new businesses access £4.2 million in low cost business loans over the past five years.

Get Started

What we offer

TEDCO offers one-on-one support provided by a dedicated team of business advisors and a range of pre start seminars available to clients who are taking the first steps into self-employment. This could be looking at an initial idea and developing it further, looking at how to start a business plan, business competitors, business marketing.

Are you eligible?

If you are looking to start and grow a business we’d love to hear from you. Our friendly team of experienced Business Advisors are on hand to take your call to discuss the support available.

Latest News

10 tips for transforming your start-up into a scale-up

10 tips for transforming your start-up into a scale-up

So you’ve successfully started your own business. Now the next step can begin Turning a business from an idea into a livelihood is no easy task, but the hard work doesn’t stop when your brand is finally established. Many businesses manage to reach a certain level of...

read more
How well do you know your employees?

How well do you know your employees?

Part of being a successful business owner is successfully getting to know your team on a personal level Unless you work alone, your business will feature some kind of team. And whether that team consists of two people or two-hundred people, it’s important to get to...

read more

Latest News

10 tips for transforming your start-up into a scale-up

10 tips for transforming your start-up into a scale-up

So you’ve successfully started your own business. Now the next step can begin Turning a business from an idea into a livelihood is no easy task, but the hard work doesn’t stop when your brand is finally established. Many businesses manage to reach a certain level of...

read more
How well do you know your employees?

How well do you know your employees?

Part of being a successful business owner is successfully getting to know your team on a personal level Unless you work alone, your business will feature some kind of team. And whether that team consists of two people or two-hundred people, it’s important to get to...

read more
Big Apple Becomes Big Business for Local Artist

Big Apple Becomes Big Business for Local Artist

A North Tyneside based artist has turned redundancy into a thriving new business following help from TEDCO Business Support and the New Enterprise Allowance programme. Robert Myers (52), from North Shields took up his paintbrush after a creative trip to America and...

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Telephone

0191 516 6102

Address

TEDCO Business Support Ltd,
North East Business & Innovation Centre, Wearfield, Enterprise Park East, Sunderland,
SR5 2TA

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©2018 TEDCO Business Support Ltd. All Rights Reserved. View our privacy policy Company Number: 08568533 | TEDCO Business Support Ltd | VAT No. 169 8629 44 GB. North East Business and Innovation Centre (BIC) Wearfield, Enterprise Park East, Sunderland, SR5 2TA, United Kingdom.