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