Setup a business

foreversomeday

Could someone on Income-support-based incapacity benefit get any support with starting up a business?

ukdickie31

foreversomeday wrote: »

Could someone on Income-support-based incapacity benefit get any support with starting up a business?

Hi

Have a chat with your IBPA adviser at the Jobcentre. Although the Jobcentre themselves may not be able to help, they will 'signpost' you to partner organisations that can help.

Give it a go !

Money-Tree_Faerie_2

I was receiving income support and was guided (albeit thru friends and not jobcentre) towards a business start-up organisation here in Scotland. I had to attend a 3 day course and create a business plan and such. They gave me £3,000 in funding.:j

:T :T :T

you_llneverwalkalone

Money-Tree_Faerie wrote: »

I was receiving income support and was guided (albeit thru friends and not jobcentre) towards a business start-up organisation here in Scotland. I had to attend a 3 day course and create a business plan and such. They gave me £3,000 in funding.:j

:T :T :T

Does anyone know if they do this in Wales??

TheWaltons_3

My friend was advised that the jobcentre would help her set up a Business account and she could work for her business for a while, but could not keep the money.. she would have to pay it into her business account...and for a short time, she could still claim IS.

What is the nature of the business?

There are grants available also, how old are you? The Princes Trust also offer grants dependant on age (I think, I am sure it is to do with age.. or maybe income)

https://www.businesslink.gov.uk

And check out Princes Trust.

ukdickie31

My friend was advised that the jobcentre would help her set up a Business account and she could work for her business for a while, but could not keep the money.. she would have to pay it into her business account...and for a short time, she could still claim IS.


This is called "Trial Trading"

There are three stages to this.

Step 1 is normally a 1 day seminar with the Business Support Organisation to discuss the genral Business Idea.

Step 2 lasts about 8 weeks and progresses the idea into a viable and working idea. Discusses and sets up Business Bank accounts, Insurance etc and basically gets ready for trading. Business Plans and funding are organised or discussed.

Step 3 is the trial trading whereby the money earned cannot be withdrawn for personal use, but can be re-invested into the business. Normally the Business Organisation supporting you is a second signatory on the bank account where funds are paid into.

Steps 1 to 3 are organised by the Jobcentre.

If you do these without involving the Jobcentre, you could risk losing benefits or be classed as in work etc.

Tax Credit have different rules and just to throw a spanner in the works, when you are on step 3, Tax Credits may be payable, but these impact on any other benefits !