New Enterprise Allowance scheme - My story

pinkypoopydoo

It is incredibly frustrating! I guess I'm lucky, in that I've had the initial meeting, and am technically working on my business plan, BUT, my mentor has had my business plan (rough copy) for ages, and I asked for feedback so I could hone and improve it, and I've heard zip. I asked about whether I should be opening bank accounts, shelling out for membership fees etc NOW, and again, I've heard zip. If I sign myself off, I could just get on with it, without stressing about the jobcentre having a whinge about lack of progress, and sanctioning me. I had to prove that I'd sent off emails to BG when I last signed on, as they've had nothing from my mentor since the inital email stating that they accepted that I had a viable business idea, and should be allowed time to work on my plan.

Maybe I'm just being impatient, and grumpy, but I've been waiting for nearly 2 years to get this referral (they wouldn't refer me when I was on IS), and I want to get going.

I have a meeting with a potentially good, regular client tomorrow, and if it goes according to plan, and I she is happy to pay the hourly rate I hope to get, then I shall consider phoning visa companies and my mortgage provider to try and negotiate payment holidays, so I can just sign off, without stressing about big bills for a couple of months till I get on my feet.

WantToBeSE

just called the agency i was talking about, to ask about details.
The pay is £7.50 p/h and i am expected to hand over £2 p/h of that too the agency to cover PLI! So i'd only be getting £5.50 p/h if i took up any hours with them!
That's a quarter of what i normally charge!

God, i am just tempted to get 1000 flyers printed via vistaprint and just start delivering now and take up any work given. That way, i can just take the info into the JCP every fortnight, and do it that way.

TeeKay10

Well, I've had slightly more positive news, I was told at the end of April that there was a 4-6 week wait for a mentor, but I got a call from BITC last night to say that they have found one already!

They gave me her name and so I did some stalking on t'interweb, lol, to see who she was etc and she is a lecturer at the local college so hopefully she has some gumption about her!

The mentor herself rang me about an hour ago to arrange a meeting and I was mortified to hear her say that she knew I'd been reading about her on 'linkedin'! I didn't realise that if you are logged into it (as I unwittingly was) that the person gets notification of who has looked them up!!! :eek: I bet she thinks I'm a right weirdo!!! :rotfl:

So, we are meeting next week (date not arranged yet as I didn't have my diary to hand) and I'm to take my draft business plan with me. Which I haven't exactly got, so I best get doing some homework this weekend!

WantToBeSE

Thats good news TeeKay! You'll have to let us know how you get on!

I am off to a Self-Employment workshop tomorrow, via outset. All of their workshops are free, and then runs loads of different ones (to help with funding, marketing, HMRC, Tax etc).

It's only a few hours, and its an intro one. Should be good for networking too

TeeKay10

WantToBeSE wrote: »

Thats good news TeeKay! You'll have to let us know how you get on!

I am off to a Self-Employment workshop tomorrow, via outset. All of their workshops are free, and then runs loads of different ones (to help with funding, marketing, HMRC, Tax etc).

It's only a few hours, and its an intro one. Should be good for networking too

Thanks, I will do!

That sounds interesting - how did you get onto the Outset scheme? I'm all about courses and gaining any knowledge that may be of relevance (sorry if you've already said, I've read that many forums lately that I don't know what I've said, let alone what other people have already said! )

Is there any specific criteria to going on a course etc?

pinkypoopydoo

I take back my grumbles - long email from my mentor this afternoon, with 3 notes on my business plan to sort out, then she says it'll be signed off by Business gateway, and the go ahead will be sent to DWP for me to be signed over from JSA to NEA!! I've been told to just go ahead and set up a business bank account, etc in anticipation of the sign off. I'm so chuffed!

WantToBeSE

TeeKay10 wrote: »

Thanks, I will do!

That sounds interesting - how did you get onto the Outset scheme? I'm all about courses and gaining any knowledge that may be of relevance (sorry if you've already said, I've read that many forums lately that I don't know what I've said, let alone what other people have already said! )

Is there any specific criteria to going on a course etc?

TeeKay, i just googled them and signed up to their info session online. I went along to the info session today and really enjoyed it, i'd highly recommend it!
I have also signed up to their 'Intro to Enterprise' workshops (there are a set up 8 that i have joined up for).
Its all totally free, and they run in loads of towns, the best thing to do is goodle 'Outset (and then the name of your local town)'.
If you want to PM me the area in which you live, i could find out for you-no pressure though, its fine if you'd rather not.
No criteria needed at all-there were a real mixed bag at the group today, ranging from people who had only just started trading, to people who had an idea but didnt know where to start, and people who didnt have any specific business ideas but know they want to go down the SE route.

pinkypoopydoo wrote: »

I take back my grumbles - long email from my mentor this afternoon, with 3 notes on my business plan to sort out, then she says it'll be signed off by Business gateway, and the go ahead will be sent to DWP for me to be signed over from JSA to NEA!! I've been told to just go ahead and set up a business bank account, etc in anticipation of the sign off. I'm so chuffed!

Excellent Pinky! I STILL havent heard from my mentor...fingers crossed it wont be too long!

TeeKay10

Thanks, unfortunately Outset don't run in Derby (or anywhere in the East Mids!) so that's not an option for me

Still our council run various free courses so there's still plenty to be going on with!

pinkypoopydoo

I now find myself in a catch-22 situation. I am ready to start trading, but need to pay for professional fees before I can legally trade. I need to borrow money, and intended on applying for a NEA loan, to pay for the bulk of start up costs (fees included) which will come to between £700-800. But today I've been told by my mentor that I can't apply for a loan until AFTER I start trading. I thought the whole point of the NEA loans was to HELP with start up costs?

So, I either need to find a bank that will loan me the money at an outrageous APR, or get back in my little JSA hole. I could cry.

In actual fact, the NEA appears to be there to help those who actually already have the facilities to start up, without help.

BigAl127

pinkypoopydoo wrote: »

But today I've been told by my mentor that I can't apply for a loan until AFTER I start trading. I thought the whole point of the NEA loans was to HELP with start up costs?

In my case, the only time I could apply for the loan, was at the meeting, where my mentor approved my business plan. I then had 13 weeks in which to start trading.

I didn't apply for the loan, but was also told, there's no guarantee, that an application would be approved. Each application is assessed on it's own merits, and the applicants past financial history. Though that doesn't mean if you were to have a poor credit history, you'd be declined.