Out of desperation I'm contemplating stating as business without funding

Sir_Pac

I know it doesn't make sense to start a business with no capital but I'm desperate to get off the dole.

I'm currently in receipt of JSA (£71/week) plus housing benefit etc.

I'm unemployable (take this on faith), but I'm far from incapable! I have a great busines model, and have been so close to starting my business that I could taste it (bedroom tax crippled my 2013 plans to start my business).

I have considered taking the leap, swopping my Job Seekers Allowance (JSA) for Working Tax Credits (WTC), and stating my business (it could be a while before my business would generate any income).

My concern is that WTC is a lot less than the JSA I'm getting now and wouldn't meet my current needs regarding 'actual' living expenses.

(I'm typing this from my bed, because I can't even afford to put the heating on! Any less than my JSA, and I'm not sure how I could cope)

I have kept the Job Centre informed of my intentions (middle finger to the low-life who reported to the Job Centre that I was commiting benefit freud) and they have been helpful to a point, but can't help with funding.

What am I to do? Brain-storm with me...

Kayalana99

If you already have the idea - how much funding do you actually need to raise?

Are you unemployable because you are disabled? I only ask as I wonder if you are limited in some way not because I wish to say their is always standard jobs to get.

Their are loads of little ways to build up cash if you have time, so if we had a figure you were needing to get you started (and if you don't know you should work this out) we could come up with ideas to get you to this goal.

Perhaps have a think about that?

ms_night_ryder

How old are you? You could get a start up loan to help fund the business. You need to give more details do you have children? Working tax can only be claimed if your self emplyed and working 30+ hour's a week, or 16+ if you have children, if your se you can still claim hb and ct providing after expenses you are earning £50 or less each week

~Chameleon~

How about applying for a grant from the Prince's Trust? Assuming you're aged under 25 and, if you say you're unemployable, that you possibly don't have any qualifications or disadvantaged in some the way, then this would be a good starting point.

PlymouthMaid

Good luck with your venture. Could something like Kickstarter be used to get some capital if you don't qualify for any of the other help detailed above?

Sir_Pac

Kayalana99 wrote: »

If you already have the idea - how much funding do you actually need to raise?

In all honesty Kayalana, I could run the business whilst on benefits, and I was almost there when the bedroom tax crippled my plans.

Kayalana99 wrote: »

Are you unemployable because you are disabled? I only ask as I wonder if you are limited in some way not because I wish to say their is always standard jobs to get.

Not disabled as such, I suffered from depression for a hell of a long time (almost killed me). Coming out of the other side changed me, in ways I won't bore you with, but I am UNEMPLOYABLE.

Kayalana99 wrote: »

Their are loads of little ways to build up cash if you have time, so if we had a figure you were needing to get you started (and if you don't know you should work this out) we could come up with ideas to get you to this goal.

Making money isn't the problem as such (although thats part of it of course) its more a fear of not making it, and losing what little I've got now.

There is a mental barrier rather than one of being incapable. I know I've convinced myself its a money problem, but if I'm really honest with myself, its one of confidence.

Thank you for your reply Kayalana

Sir_Pac

ms_night_ryder wrote: »

How old are you? You could get a start up loan to help fund the business. You need to give more details do you have children? Working tax can only be claimed if your self emplyed and working 30+ hour's a week, or 16+ if you have children, if your se you can still claim hb and ct providing after expenses you are earning £50 or less each week

Thank you for replying, I've already tried to get finance (loans etc) but same barrier each time (no funds available, I've got the T-shirt)

30+, pish-posh, I work that in my sleep. My business model is my passion (it cost me my marriage because I wouldn't give it up and (try harder) to get a job.

As mentioned above in my last reply, when I'm honest with myself, the money issue is more a excuse than a reason for not starting. If I was 100% certain that I could claim roughly the same amount in benefits as I do now (until I was earning) then I'd make the jump, but the figures I've been quoted (job centre, better off in work assessment) showed a shortfall of approximately £20 week. I couldn't survive on that, I live with ZERO heating as it is, no TV or home phone, lol, not much left to cut...

:-)

Sir_Pac

~Chameleon~ wrote: »

How about applying for a grant from the Prince's Trust? Assuming you're aged under 25 and, if you say you're unemployable, that you possibly don't have any qualifications or disadvantaged in some the way, then this would be a good starting point.

I'm 50 this year :-) way too old for the Princes Trust, and it could be a factor in why I've been offered so little help.

I have zero qualifications, left school at 14 due to bullying :mad:

My business model is a work of genuis, and because it's a passion of mine, it doesn't feel like work. I don't need any qualifications to run my business (although I might need to learn some basic business skills, keeping accounts being a major one, I hate maths etc),

I don't really need any money to start either. What I need is to know I'll still recieve enough benefits to get by on until I can start to earn a living wage from my business.

I'm very secretive about my business model but when I've discussed it with business/marketing mentors (the job centre did help here, until guess what funding ended, and I had to go back to looking for work instead of pursuing my dream), they sat open mouthed, and couldn't believe it was all my own work (no credibility factor, no experience or qulaification to back me up (would you lend to me, lol)).

I'm rambling...I don't even know if what I've wrote makes sense now, because I'm mind is drifting lol

Sir_Pac

PlymouthMaid wrote: »

Good luck with your venture. Could something like Kickstarter be used to get some capital if you don't qualify for any of the other help detailed above?

That is a very good idea, and one I had looked at a while back. Not sure why I didn't follow though but my mind is chaotic, and just before a new thought really gets a foot hold, another thought comes in, and the original thought process is lost (Thank you depression, totally knackered my thought process)

I will take another look at Kickstart (and its imitators) again.

Thanks again

~Chameleon~

I know you don't want to give anything away and I don't blame you, but if this is a hobby/passion of yours is it not something that you could work at on this basis whilst still claiming JSA and if you actually make any money then declare to the JCP when you sign on as casual earnings. I think there's a permitted allowance you can earn before losing benefit?

Sir_Pac

~Chameleon~ wrote: »

I know you don't want to give anything away and I don't blame you, but if this is a hobby/passion of yours is it not something that you could work at on this basis whilst still claiming JSA and if you actually make any money then declare to the JCP when you sign on as casual earnings. I think there's a permitted allowance you can earn before losing benefit?

You know whats funny Chameleon, last week someone reported me for benefit fraud :rotfl:

Luckily, I've kept the Job Centre guys uptodate on my activities so no harm no foul - still it shows you how some peoples minds work

Interesting point you raised, and one I might have to ask this wednesday.

I'm pretty sure my advisor is going to be pushing me into doing some sort of free voluntary work type deal (work so many hours or lose my benefits) not sure if thats really the case, or if I mis-heard them during my last visit.