New Enterprise Allowance scheme - My story

bellkat

Hi Libbie, sorry to hear that the business isn't going too well.

I don't think that NEA allowance can be extended, but did you know that you might be eligible for tax credits.

I'm 4 weeks into my business and I've just been awarded WTC of just over £50 a week. You need to be working at least 30 hours a week to claim, unless you have children then the rules are different,

It is hard at first, I had expected to have made more sales than I have up to now, but I'm still positive in the meantime.

Hope you manage to sort something out

WantToBeSE

pinkypoopydoo wrote: »

I email invoices - it means they get paid quicker as they are received instantly! I would recommend invoicing weekly, and giving them 7 days to pay (they should pay quicker, but if you state on it that they have 7 days, then they shouldn;t mess around)

I would also recommend you make them sign a letter of engagement, that shows your terms - how and when you expect to be paid, how often you are going to invoice them, by what terms you expect to be paid (ie, by an hourly/daily/weekly rate)

I can email you a template for a basic letter, than you can jiggle with, if you want?

Do you have a company name/logo yet? Excel have some decent, free, invoice templates that you can play with initially. I used one of them, personalised it with my logo and company name, and it looks pretty good. I just need a few more customers, so that they can appreciate it's beauty!

Thanks Pinky.
I would really appreciate that invoice template if you wouldn't mind? I did look at some free ones online, but they were all a bit too in depth for what i need.

I have got a logo all sorted out, i just used a free logo maker online.

How is your business going?

WantToBeSE

Libbie2013 wrote: »

I did the Enterprise Allowance Scheme and I'm now down to the £33 a week.

My business isn't taking off as well as I would have liked (basically it's not bringing in enough to support myself).

Does anyone know what happens next?
Do I sign on again?
Can I get an extension on the EAS so I have more time to make this a success? (my preferred option)
Am I classed as a new 'sign on' or is it seen as a continuation (I had previously been signing on for 12 months before the EAS).

Does anyone know the process as I can't find any info?

Hi Libby, sorry to hear that things arent going as well as you'd hoped they would.
To answer your questions, we need a bit more info.

Are you a single parent, or part of a couple?
How many hours work do you have per week?

If you are a single parent, with children under 12, you only have to be working 16 hours per week in order to claim WTC.
I am not sure of the hours required if part of a couple.
I am not sure how many hours you are working, but if you arent earning enough to survive on then i presume you arent getting enough to get WTC?

I would imagine that you would have to go back onto JSA, starting from where you left off, so if you've been unemployed for 12 onths then they would probably send you onto the work programme (depending on your area).

Andy2013

Yes I agree with the above , I was told that if NEA failed then I would be put on work programme so that alone was an incentive to make it work.

When your 26 weeks are up you basically carry on as you are ,but without the scheme behind you ( in my case just carry on as my scheme is hopeless ! )

They don't allow extensions as the logic is by week 26 your business should be at very least profitable to some extent and if not then its probably best to call time sadly.

Remember you can get help through business link and this is mostly free and can give you grants, loans and good advice so don't just think NEA have control.

pinkypoopydoo

WantToBeSE wrote: »

Thanks Pinky.
I would really appreciate that invoice template if you wouldn't mind? I did look at some free ones online, but they were all a bit too in depth for what i need.

I have got a logo all sorted out, i just used a free logo maker online.

How is your business going?

I shall email you templates over this evening. You just need to place your logo on it, then delete anything you don;t need (for example, it has a line for VAT, which I deleted on mine, as I'm not VAT registered).

Business is ok - enough money coming in to cover the bills, and feed the children. Not exactly booming yet, but I keep forgetting that I'm only 6 weeks in! I swing between extreme confidence that everything is going great, to extreme stress that I'm not picking up loads of clients quickly. I need to calm down, and remember that if I do a great job with my exisiting clients, they will recommend me to others, which is the most effective way for a bookkeeper to build a client list.

WantToBeSE

Thanks Pinky.

I think i may be able to get something called 'In Work Credit' too, which is £40 a week (outside London. It's £60 a week if you live in London).
I am going to see about it next week at the job centre.

This_Year

Just wanted to say well done to WantToBeSE

WantToBeSE

Thanks, This Year

andyscott

How long does it take to receive first WTC payment when going self employed and for anyone who went it alone without NEA was their anything benefts available to you to tie you over between stopping JSA and receiving first WTC payment?

WantToBeSE

Hi Andy, i am just about to go through coming off JSA and waiting for WTC, so i can let you know. Pinky, i presume you have gone through this, are you still waiting for WTC still?
As far as i know, there isn't anything to tide you over while you wait, although my advisor has mentioned the possibility of a £200 grant to cover childcare costs for the first few weeks.

This link may answer some of your questions:

https://www.gov.uk/moving-from-benefits-to-work