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  • FIRST POST
    • XEO25
    • By XEO25 9th Aug 11, 2:41 PM
    • 100Posts
    • 33Thanks
    XEO25
    New Enterprise Allowance scheme - My story
    • #1
    • 9th Aug 11, 2:41 PM
    New Enterprise Allowance scheme - My story 9th Aug 11 at 2:41 PM
    I've used this forum for years but never really gave anything back. I plan to keep this thread as an online diary of my experience during the New Enterprise Allowance scheme. Hopefully it will encourage others to give it a go and answer any questions they might have.

    For those that don't know, getting on to the NEA scheme is done in 3 steps...

    Step 1 - A meeting with your personal advisor in the Job Centre to discuss the possibility of going on the NEA scheme. If your personal advisor supports your idea (mine is an online design agency - web design, SEO, branding etc) they will then book an appointment with a business expert.

    Step 2 - Discuss the idea with the business expert who has the final decision on whether the business idea is viable or not. (This is the meeting I have tomorrow).

    Step 3 - If the idea is seen to be viable, you will be paired up with a business mentor who will continue to develop the idea further. This process is said to take 6-8 weeks.


    I have the following questions to ask tomorrow, feel free to add anything you think I should ask...

    1) I am living with partner, we both receive £105 per week as we are both unemployed. How will the NEA scheme effect this payment?

    2) My partner an I also receive housing benefit and council tax benefit. How will the NEA scheme effect this payment?

    3) What are the exact conditions of the £1000 loan? APR, length of loan agreement, etc.

    4) Should the business fail, what is the process of going back on to JSA until I find employment?

    If anyone else is on the NEA scheme, feel free to share your thoughts
    Last edited by XEO25; 09-08-2011 at 2:46 PM.
Page 71
    • SoftKittyWarmKitty
    • By SoftKittyWarmKitty 12th Dec 16, 10:48 AM
    • 341 Posts
    • 627 Thanks
    SoftKittyWarmKitty
    Does anyone know if Enterprise Allowance covers Starting up as a self employed courrier for example with Hermes?
    Originally posted by Domcara
    Domcara, when I went on my workshop the other week, one of the other people in the group was setting up as a self employed courier. Not sure what companies he was going to look for work from (I know he was going to approach quite a few) but hopefully knowing that will reassure you that a courier is a valid business that they approve onto the scheme.
    • Tommo1980
    • By Tommo1980 12th Dec 16, 10:57 AM
    • 290 Posts
    • 373 Thanks
    Tommo1980
    I love your username SoftKitty. Makes me think of Sheldon Cooper every time a see you post.

    Tom
    • naturaljazz
    • By naturaljazz 18th Dec 16, 8:52 AM
    • 114 Posts
    • 766 Thanks
    naturaljazz
    How long do youhave to besigning on before you can apply for NEA?
    All new single claimants in our area are put on Universal Credit... so does that count in terms of going on NEA? Just read if your on the Work Programme you cannot go on NEA? So if one has a business idea say after university, (my son) sign on and say quite soon that you want to go for the NEA ... is that correct?
    He would not need the loan so credit check etc would not apply to him.
    Remember when you judge someone, it does not define them ... You define yourself
    • jackrussell28
    • By jackrussell28 18th Dec 16, 1:59 PM
    • 17 Posts
    • 3 Thanks
    jackrussell28
    Universal Credit
    Does not make a difference if on JSA or Universal Credit same criteria applies when applying for NEA, your son's work coach at JCPlus should have all the information he needs
    .
    This link has info ..........
    https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/517245/back-to-work-guide.pdf
    • Nick187
    • By Nick187 13th Mar 17, 2:48 PM
    • 1 Posts
    • 1 Thanks
    Nick187
    Hi guys, sorry for the "bump" but this thread interests me.

    I'm currently on Universal Credit and I was talking to my JC adviser and they recommended me to this scheme (gave me the options of similar schemes, but I preferred this one) after I mentioned the possibility of self employment now I have finished a part-time course I was on. Honestly, it's very convenient for me on paper.

    My JC adviser hasn't yet referred me onto the NEA people, I am currently completing my business plan before I am referred onto them. I have never created a business plan, I am actually using the business plan template to the "Princes Trust". Is it common to complete the business plan before a meeting with the people at NEA? The only reason I ask is, some people on here seem to have been referred onto NEA and are still creating a business plan.

    Even though you don't have too, would it be more convenient for me to complete/partially complete a business plan before I am referred, anyway?

    If anybody with experience of being on this scheme could help me that would be great.

    Also, just a general question for people on the scheme, is it actually helpful and has it been successful for you?

    Thank you!
    Last edited by Nick187; 13-03-2017 at 2:56 PM.
    • jackrussell28
    • By jackrussell28 13th Mar 17, 5:28 PM
    • 17 Posts
    • 3 Thanks
    jackrussell28
    Business Plan
    Hi Nick

    When you say that you are preparing a business plan, you say your JC adviser has asked you to do this?
    Obviously your JC adviser has listened to you about business you are thinking of starting up and thinks it is worthwhile you applying to join the NEA scheme.

    Back to the business plan, all I did initially is a very broad outline business plan, who would be my customers, is there a demand in the area, would it support me full-time, etc. Once you have convinced NEA that your business could succeed then you have to provide , with the help of a NEA mentor a full business plan projected over 12 months, they provide the templates for this and help you through the process, once your adviser is satisfied with the business plan it then goes before the NEA Mangers who will decide if you are accepted onto the scheme.

    Obviously things can change but I was told by NEA that they was struggling to meet the numbers at the time to meet targets of getting people onto NEA, so if you have a sound plan you should be fine.

    Good Luck
    Jack
    • SoftKittyWarmKitty
    • By SoftKittyWarmKitty 24th Apr 17, 2:28 PM
    • 341 Posts
    • 627 Thanks
    SoftKittyWarmKitty
    Hope everyone is getting on ok with the NEAS. I've been on the scheme since February and I'm putting my income figures together ready to submit my 2016-17 tax return. Can anyone confirm whether the NEAS payments should be declared to HMRC as part of my tax return and if so, is the NEAS money taxable? I asked my mentor and he basically said he doesn't know and to ask an accountant (helpful, huh?!). However I don't have an accountant and haven't got the budget for one, so I was hoping someone on here could clarify for me, please.
    • algaeholics
    • By algaeholics 11th Jun 17, 7:58 PM
    • 1 Posts
    • 0 Thanks
    algaeholics
    Hi Kitty

    NEA is not taxable from what I have read.
    Google: 'Proceduralguidance 25 Feb13.pdf' - and check point 136.

    Now a question of my own:

    I've been unemployed for some time and have been dabbling, as a hobby, with BitCoin Mining - ie. you can get paid by sharing your computer resources globally to authenticate decentralised transactions.

    It IS profitable, though that profitability relies on the value of BitCoin (which is up and up) and the exchange rate between EUR and GBP and the costs of electricity.

    Given that all three parameters have volatility, could this be regarded as a viable business plan?

    I have three devices with the potential to generate a total gross profit circa £50-£60 per week.

    Adding further devices is perfectly feasible, subject to loan funding and/or reinvesting some or all of the profit short to mid term.
    Last edited by algaeholics; 16-06-2017 at 3:09 PM.
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