New Enterprise Incentive Scheme
NEIS is a Commonwealth Government initiative, which provides a comprehensive package of
assistance to eligible unemployed people to help them start their own businesses.
Assistance includes small business management training and business plan development,
NEIS Allowance for up to 39 weeks,
NEIS Rent Assistance for up to 26 weeks (if eligible) and mentor and
on-going support during the first year of business operation.
If you are eligible to receive the NEIS Allowance, the amount you receive will not be affected by
income from your NEIS business, no matter how much your business earns.
However, your provider will collect information from you about any external income –
that is any income you receive from outside your business. Receiving income from sources other than your business may affect your NEIS allowance.
The New Enterprise Incentive Scheme provides you with support you need to start your own business including:
- Training in Small Business Management
- May include Financial support during the first 9 months of operations ( NEIS allowance)
- Mentoring and advice for 12 months
In order to be eligible for the New Enterprise Incentive Scheme you must:
- Be 18 years or over
- Not currently employed, and looking for work
- Not be an undischarged bankrupt
- Available to participate in training and work full time in your business
- Have not participated in NEIS in the previous 12 months