Self emloyment and benefits

GingeG

Hi all,

Anyone had any experience of being able to get some help from the Government whilst starting up? I dont mean grants I have heard that I may be able to claim some benefits whils waititng to turn a profit?

Anyone know any more? I have never been to a benefits office before and have just finished paying tax as I have left my old job to form a company with 2 former coleagues. We do not expect to make any monet for a few months so any help would be great.

GingeG

Jeepers I just checked my spelling its really bad!!

Sorry for anyone trying to decipher

richt71

GingeG wrote:

Hi all,

Anyone had any experience of being able to get some help from the Government whilst starting up? I dont mean grants I have heard that I may be able to claim some benefits whils waititng to turn a profit?

Anyone know any more? I have never been to a benefits office before and have just finished paying tax as I have left my old job to form a company with 2 former coleagues. We do not expect to make any monet for a few months so any help would be great.

There's no benefits that pay you to start a business as far as I know. They pay you to find a paid job with an employer. However there may be certain grants or loans you could claim dependant on what you want to do. Have a look for your local businesslink office - it's funded by the government. They give free advice for people starting businesses. Most towns have an office.

fizzystutter

How old are you ? The Princes Trust offer low rate loans whilst giving you a mentor as well.

You have to be (I think) 18 to 30 (something). Maybe worth a look.

GingeG

Thank you both,

I have been to business link already and they mentioned that if I dont earn enough then I will get benefit.

I am not eligible for PT grants as I am over 25. I have been in full time employment since 16 and have only just left. Mt drama is that I will need to eat while running the business and I am after advice from anyone else whop may have claimed some benefit whilst trading.

Petmidget

It isnt so much a benefit but you could qualify for tax credits, as while you lose money or make very little you are workng for nothing.

Full WTC is worth about 50pw and if you have kids it is more.

oz_valdo

Hi GingeG,

I have been involved with Nwes recently and was advised to contact the jobcentre (sp?) about how starting a business would affect my benefits.

A really helpful chap at jobcentre told me that if i were claiming jobseekers allowance (which im not but thats another story) then i *may* qualify for new deal for self employment. Under this scheme i would do a short course in starting a business (to help me with my business plan etc) then enter into a test trading period. This can last up to 6 months. During this time, i cannot use any income which is generated to live on and Nwes will have access to my business accounts. But i think it is an excellent scheme (be prepared to come up against nay sayers at the jobcentre though, i understand that they are starting to phase this out).

If i can help any more, please IM me and i will do my best......

Good Luck!!!!!

Petmidget

During this time, i cannot use any income which is generated to live on

Out of interest what do you do with it then, spend it on beer??

Contains_Mild_Peril

Petmidget wrote:

During this time, i cannot use any income which is generated to live on

Out of interest what do you do with it then, spend it on beer??

I imagine you're supposed to reinvest it all in the business, which would mean, presumably, that you'd be entitles to some sort of benefit or grant to live on.
I went on a short course once when we were told that grants of £1300 were available for new businesses. What they didn't mention till later was that it was spread over 26 weeks: you'd still be expected to find start-up finance elsewhere.

martindow

Can you claim council tax rebates as a result of having a low income?

Contains_Mild_Peril

Yes, you should get some Council Tax Benefit if your income is low.