Eligible job seekers who are interested in starting and running a small business may be able to access assistance through the federal government’s New Enterprise Incentive Scheme (NEIS).
The scheme was introduced to provide accredited small business training, business advice and mentoring, as well as ongoing income support for up to 52 weeks to participants.
Local NEIS providers are equipped to provide individuals with the tools to put a business idea into practice. One element of this is advising on possible additional skills training, namely a certificate in micro-business operations or small business management. Training advice is assessed on an ad-hoc basis, dependent on the type of small business idea.
In addition, during the training phase, participants will also receive assistance to develop a business plan, which will be subject to approval by the NEIS provider.
If your business plan is approved, you will receive NEIS Assistance, which includes:
- NEIS Allowance for up to 52 weeks
- NEIS Rental Assistance for up to 26 weeks (if eligible), and
- business mentoring and support during your first year of business operation.
Eligibility is subject to strict criteria. To apply to participate in NEIS, interested parties should contact your local Job Services Australia or Disability Employment Services provider to discuss whether NEIS is an appropriate activity for you. More information is available on the NEIS website.