What is the New Enterprise Allowance (NEA) programme?
Self-employment continues to grow within the UK, with more people than ever choosing to tap into potentially uncapped earnings by starting their own business. Our specialist self-employment brokers have assisted thousands of people to start, build and sustain their own companies. The New Enterprise Allowance programme is designed for individuals who meet the following criteria:
- They have a valid new business idea which could provide sustainable self-employment
- Are currently unemployed
- Claiming Job Seeker’s Allowance, Employment and Support Allowance, Income Support or Universal Credit
What does our NEA do?
The NEA programme is designed to take you through the required steps to start-up and grow your business. You will receive on-going mentoring support from our self-employment brokers, they will help you:
- Develop a solid business plan
- Create a marketing strategy
- Produce cash flow projections
Our brokers will work with you to help you maximise your potential and thrive in your chosen area of business. They will help guide you through each step providing their expertise and knowledge but they cannot do the work for you, it is your business and it starts and ends with you. Self-employment is not an easy option, it requires a great deal of dedication, discipline and motivation from you to make it work.
How does it work?
The NEA programme is broken into five distinct sections:
The Link Up: Start Up information session – this is where we tell you about what it takes to be self-employed and what you can expect from Shaw Trust while on programme
- Initial Assessment – we will carry out a thorough assessment to ensure you are in a good position to achieve the tight timescales involved with starting your own business while on the NEA programme
- The Mentoring Phase – this is where we mentor you through the creation and development of your business plan, the key document in your journey
- Start trading and New Enterprise Allowance payments – once you begin trading you can access the financial allowance to support your earnings from your new business
- Sustainment Phase – we will be there to support you during your first year of trading, offering further support to grow your business
How do I found out more?
Simply speak to your work coach at the Job Centre Plus who will arrange a start up session.