The government has announced plans to expand the scope of its proposed New Enterprise Allowance (NEA), which it hopes will create up to 40,000 new businesses by 2013, while also confirming a major overhaul of the Business Link advice service.
The NEA, a package of up to £2,000 available to unemployed people wanting to set up their own businesses, will be launched later this month in Merseyside, with a national rollout expected by autumn. The scheme will be available to twice as many people as was originally planned, giving people who have been unemployed financial support for their early months of self-employment, access to a start-up loan, and an expert business mentor to help guide them through the first stages of business. Those hoping to claim the allowance need to have developed a business plan and secured the agreement of their proposed mentor that it is viable.
Business and enterprise minister Mark Prisk said: “In the current economic climate, it has never been more important to promote an enterprise culture in the UK. It is vital that businesses have the information, advice, and mentoring they need to grow and expand. The best people to advise small businesses are those who have already started and run successful companies, so it is particularly important that this new framework focuses on providing access to business mentors.”
SFEDI Awards’ qualifications provide the flexibility to support aspiring entrepreneurs at all stages of the enterprise journey, from pre-start through to running their own business.