New Enterprise Allowance scheme - My story

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  • CuriousWorker
    CuriousWorker Posts: 20 Forumite
    edited 6 August 2013 at 8:22AM
    If you're going to try to twist my words then I will not respond to you. I did not say YOU were unlucky did I? I think you need to get over yourself. And yes, a projection is a projection - so ultimately it doesn't mean (Text removed by MSE Forum Team) unless things go as planned... which they haven't (for me, not you, it's not all about you!).
    even if you have 20 years of records to fall back on, its no different to having nothing
    Now anyone here with a brain knows that this statement is pure (Text removed by MSE Forum Team).

    And additionally, a projection is not set in stone. I am always changing, editing and updating my projection based on how things are going... and you never know what's going to happen in the future. As you said:
    Business NEVER goes to plan, projections are always optimistic and things are hard.
    and that bit is spot on! Stop contradicting yourself.
  • Projected income is a hugely important part of business planning. Yes, to an extent, it is grasping at figures out the air, but it should be done in an informed manner - if you have researched your business and competitors properly, you will be able to make a fairly good educated guess as to what you can expect your earnings to be.

    If you are in need of any kind of stock at all, to make your business viable, whether it be in the form of raw materials for production, consumables or even just envelopes and paper, projections of sales/income levels are required to ensure you're not left with nothing to work with.

    Yes, in a number of ways, NEA is sadly lacking. I think a lot of us went into this expecting a good deal more support than we have received, however, I have found all the government departments to be friendly and helpful, from the local council office, when I needed to re-apply for council tax reduction when I signed off JSA to the tax credits people.

    I now have no doubt that I could have done this without the NEA help, but it would have been a far bigger struggle, not just financially but also mentally, if I hadn't done it this way. Despite the lack of contact from my mentor, there's always that thought in the back of my mind that Business Gateway accepted my plan as viable. It's a mental boost when I'm having a rubbish day.

    Thanks for a sensible response, at least someone here has a brain and actually understands what I'm talking about. As you said:
    Yes, to an extent, it is grasping at figures out the air, but it should be done in an informed manner - if you have researched your business and competitors properly, you will be able to make a fairly good educated guess as to what you can expect your earnings to be.

    which I did do. However, circumstances have changed drastically and so my cashflow projection now also needs changing but has already been handed in. Basically, they have screwed me over with timing. Had I been able to start when I wanted to then things would have gone smoothly... but no, they had to completely undermine my business plan and now there ain't much I can do until September.
  • WantToBeSE
    WantToBeSE Posts: 7,729
    I've been Money Tipped! Debt-free and Proud!
    Forumite
    andyscott wrote: »
    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?

    Hiya Andy, just thought i'd let you know how things are going with the transition.
    I got my final payment of JSA 4 days after signing off.
    I phoned TCs a few days ago, and was assured that my claim would be processed within a week or 2 (i'll continue to keep you posted).

    I wasn't offered ANY payments to tide me over between signing off and getting WTCs. It's made the first few weeks REALLY difficult, especially as i have to put about £30 a week petrol into the car in order to travel to peoples houses to clean for them...so, it has been very tight financially.
  • WantToBeSE
    WantToBeSE Posts: 7,729
    I've been Money Tipped! Debt-free and Proud!
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    edited 6 August 2013 at 8:23AM
    Is it possible to do this once you have been on the scheme for over a month? Seems a little awkward considering I can't even get hold of the NEA advisor in my area - her phone is always off, she's never in the office and she never bothers responding - she may aswell not be there.

    Hi CW :)
    Yes, it's perfectly possible. I felt a little awkward about ending my claim to go self employed, considering that i was supposed to be starting the mentor stage prior to actually signing off JSA. but after 3 months i could not wait.
    When my advisor asked me why i had decided to do it now, instead of wait for NEA, i told him that NEA was (Text removed by MSE Forum Team) and needed serious alteration if it was to be a success.

    it was the best thing i have done, as i am now working enough hours to get WTC and hopefully never have to see the job centre again!
  • CuriousWorker
    CuriousWorker Posts: 20 Forumite
    edited 6 August 2013 at 8:23AM
    Haha nice, I like it! I'm already in the trading stage though. I'm actually thinking about getting a job aswell, at least then I'll have some funding to put towards the business (seeing as I'm not entitled to the NEA loan).
  • Is it possible to do this once you have been on the scheme for over a month? Seems a little awkward considering I can't even get hold of the NEA advisor in my area - her phone is always off, she's never in the office and she never bothers responding - she may aswell not be there.

    I *think* that if you wanted to come off the scheme, you could phone DWP and either tell them over the phone, or make an appointment to see an advisor in your local job centre, and sort it out with them, as it;s administered by DWP (the payments) rather than by the mentoring organisation.
  • WantToBeSE
    WantToBeSE Posts: 7,729
    I've been Money Tipped! Debt-free and Proud!
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    Have put in my claim for HB and CTS today. The form was very easy to fill out, i am basing my 3 month earnings on my cash flow projections that i did while waiting for the NEA.

    Does anyone know how long it takes for tax credits to process a new claim? I informed them last Tuesday...fingers crossed it wont be much longer!
  • Andy2013
    Andy2013 Posts: 211 Forumite
    Normally tax credits are around 3 weeks to process a new claim, but at this time of year they are doing the yearly reviews so it can take upto 8 weeks for claims to go through.
  • WantToBeSE
    WantToBeSE Posts: 7,729
    I've been Money Tipped! Debt-free and Proud!
    Forumite
    Thanks Andy :)
  • Hi all,

    I have read all that has been going on!

    I am on Nea just started not had any payments yet.

    It is HELL the job centre don't have a clue and I had to speak to the district Jobcentre to get it all sorted just so I could get the loan.

    To answer some questions

    1. Bad credit history is fine ( I've got defults and loads of other bad marks)

    2. Also I was bankrupt 5 years ago and that lasts 6 on your file

    3. Don't lie to them and they will be ok. (the loan company)

    4. Nea payments are £65 a week

    5. After you have done your business plan (2 days it 5 pages with your forcast aswell.) Keep ringing them bug then !!!! them off wait in the Jobcentre do what you have to do.

    7. Don't sigh off untill your sorted ( I was done in a week and they give you 8 weeks. But kept saying oh had nothing back yet.

    8. Keep moving forwards I had no money the kids eat I didn't any spare money has to go on the business or it won't work!

    Its been a week now and I have all the equipment, website, and advertising in all the free places.

    Smashing out flyers in every door I can.

    Feeding the kids buying flyers.

    As long as there happy I'm happy going with out to see this work.

    NEVER GIVE UP, KEEP YOUR NOSE CLEAN AND DON'T LET THE !!!!!!!S GRIND YOU DOWN!
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