YOUNG entrepreneurs wanting to start their own small business have been given another boost this week, as the Coalition Government delivered even greater support to encourage jobseekers with a business idea to have a go, Small Business Minister Michael McCormack says.
The Government has this week expanded the New Enterprise Incentive Scheme (NEIS) to add 2,300 places, alongside launching workshops and practical website support for young people who want to be their own boss.
“Small business is built from a spark of an idea, hard work and dedication. With more and more Australians – particularly young people – seeing the opportunities small business has to pursue their dream, the Government is here to back them,” Mr McCormack said.
“Having run my own small business, I know the opportunities and challenges in starting up. That’s why I admire those who want to have a go and why I am determined to make it easier for them.”
These changes means there are now 8,600 NEIS places available across Australia each financial year. NEIS assistance to jobseekers starting their own small business provides a number of incentives, including:
- Accredited small business training (either Certificate III in Micro-Business Operations or Certificate IV in New Small Business)
- Help to develop a detailed business plan
- Ongoing business mentoring from local providers for the first year of business operation
- Up to 39 weeks of income support for jobseekers, plus rental assistance for up to 26 weeks (if eligible)
Mr McCormack commended Employment Minister Michaelia Cash for the very practical assistance the NEIS changes offer jobseekers.
“This announcement will help those who want to have a go with practical skills they can use in small business and long-term assistance to see their dreams become a reality,” Mr McCormack said.
“As I travel across Australia meeting small businesspeople inside their operations, I have met a number of young people who have the energy and determination to make a success of their small business.
“These are the people who create the jobs and opportunities for Australians which our communities and our economy needs. That’s why the Government has very practical support for those who want to have a go, to see that story of success spread across the country.”
Further information on NEIS is available at the Department of Employment website.