Funding for new business

[caitlin1991]

Hi

Im looking to set up my own business but i was wondering if there was funding i could get as i dont have the best credit rating im currently unemployed and i just cant seem to find a job anywhere! I love what i do but i dont drive so being mobile is a bit difficult, Any help is appreciated Thanks x

 

[Charlee-c]

You need to talk to someone in your local area about funding different regions get allocated different money pots

Xx

 

[pure]

If you are on job seekers allowance you can get a grant up to £300 if you're going self employed. Need to speak to your job centre.

 

[Beansy]

If you've been unemployed for more than 6 months you can apply to go on the NEA (New? Enterprise Allowance) scheme, via the jobcentre. The scheme is to encourage self employment.
You are allocated an advisor and work with them to develop a business plan (over a period of up to 8 weeks). Once your plan is approved you become Eligible for an allowance (instead of JSA), it's £65pw for 13 wks and then £35 for 13wks (the amounts are right, you might want to check no of weeks). You can also apply for a loan of up to £1000.
Hth

 

[Beansy]

Forgot to say, once your business plan is approved you will also have access to a 1:1 mentor who focuses on new/small businesses. Some areas also offer /encourage group support and mentoring.

 

[Papillion]

Rather frustrating that you have to wait 6 months.

 

[Beansy]

Such is life...
Being slightly cynical it could be viewed as a way of getting those people who have never considered self employment to think about it. Most people who might have already considered it and maybe got the skills to do it could have set themselves up before the 6 month point, therefore removing themselves from the unemployment figures and costing the government less. If you made this scheme available to everyone there would be some people who don't really need or want it applying and just think of the cost.
I can't be too cynical though as I'm a volunteer mentor for people on this scheme...!! It's the system not the people

 

[VickiesBB]

Princes trust! Best thing I ever done was speak to them xx

Sent from my GT-I9100 using SalonGeek

 

[Jodie-danielle]

Princes trust! Best thing I ever done was speak to them xx

Sent from my GT-I9100 using SalonGeek

I second that x

 

[sarasparkles201]

To get my funding the job centre referred me to shaw trust, my buisness mentor is great.

I get a grant of 500 that i dont pay back unlike a loan, i get help for 2 years after i am off the scheme which most places dont offer.

If like me you have been on esa after jsa you can also get the back to work credit of £40 per week and dont forget working tax credit.

I go it alone in 3 weeks time and i cant wait......