Start Your New Business with NEIS
Have you ever thought about working for yourself? If you answered yes then you may have heard about the New Enterprise Incentive Scheme (NEIS) and accessed the program to help you develop your business concept into a successful enterprise.
Over almost four decades, NEIS supported hundreds of thousands of individuals to launch their own businesses and achieve financial independence. The highly successful NEIS program provided free, recognised training for small businesses, the creation of business plans, business guidance, and, for qualified applicants, support payments while participants worked within their business.
New Business Assistance with NEIS was a Commonwealth Government initiative, which provided a comprehensive package of
assistance to eligible unemployed people to help them start their own businesses.
Assistance included small business management training and business plan development,
New Business Assistance with NEIS Allowance for up to 39 weeks (if eligible)
New Business Assistance with NEIS Rent Assistance for up to 26 weeks (if eligible) plus a mentor and
on-going support during the first year of business operation.
If you were eligible to receive the New Business Assistance with NEIS Allowance, the amount you receive wouldn’t be affected by
income from your New Business Assistance with NEIS business, no matter how much your business earned.
However, your provider would collect information from you about any external income –
that is any income you received from outside your business. Receiving income from sources other than your business could have affected your
New Business Assistance with NEIS allowance.
The New Enterprise incentive Scheme provided support to start your own business including:
- Training in Small Business Management
- May have included Financial support during the first 9 months of operations (New Business Assistance with NEIS allowance – conditions apply)
- Mentoring and advice for 12 months
In order to have been eligible for the New Business Assistance with NEIS you must have had:
- Registered with Centrelink
- Been 18 years or over
- Not employed, and looking for work
- Not have been an undischarged bankrupt
- Availability to participate in training and work full time in your business
- Had not participated in New Business Assistance with NEISin the previous 12 months of the program’s commencement.
The good news is that while the NEIS program has ended, we have a new program launching in it’s place called: the Self Employment Assistance program. Contact us to find out if you’re eligible