Be it a family member, friend or someone you meet at a BBQ, we all know someone with a great business idea who just needs a little bit of support and encouragement to become their own boss. They just don’t know where to start or don’t have the courage to take that next step.
Well now there is an opportunity thanks to the expansion of the eligibility requirements for the Federal Government’s New Enterprise Incentive Scheme. For over thirty years the New Enterprise Incentive Scheme has helped over 150,000 unemployed people with the necessary support to establish their own small business, create financial independence and foster enterprise.
The variety of businesses established through the Scheme has been extensive and impressive from games developer Halfbrick of Fruit Ninja fame right through to Inspired Aerial Vision who specialise in Unmanned Aerial Vehicles who provide high quality media for architects, designers, engineers, builders, developers and real estate professionals.
Now the opportunity to become your own boss under the New Enterprise Incentive Scheme has been extended to people not on welfare and working less than 15 hours per week, not in education or training, over 18 years of age and eligible to work in Australia.
At no cost these future entrepreneurs will graduate with a Certificate IV in New Small Business, create a business plan, receive support to start their business and have access to 12 months of mentoring from industry experts. However, non-welfare recipients are not eligible to receive the fortnightly New Enterprise Incentive Scheme allowance which is available to participants on welfare.
Alan Ghoy from Inspired Aerial Vision said the program made his start-up far less daunting. He said hearing about fellow small business entrepreneurs was both encouraging and inspiring. “With the assistance of a business mentor we felt like we weren’t alone in our endeavours,” Alan said. Business mentors have proven business acumen and experience and provide assistance and advice about organisational, financial and marketing issues to help would-be entrepreneurs develop and grow their business.
The expansion of the eligibility requirements is a fantastic Federal Government initiative and a great opportunity for:
- stay at home parents who can’t access welfare because their partner earns too much;
- people made redundant who can’t access welfare
- people seeking a career change; and
- people who’d love to turn their hobby into a career.
The New Enterprise Incentive Scheme is the perfect vehicle for these people reach their potential, just like Carl Thom. Carl started making and selling a few scuba diving lights in a Brisbane garage. Carl’s business SeaLanterns now has factories and warehouses in China, offices in Hong Kong and design and sales teams in Australia and the Philippines.
Carl shared the program built him up from the start and gave him the clarity he needed to refine his business vision. “It taught me the importance of big thinking, networking, pitching your business to anyone who will listen and introduce me to a vast network of entrepreneurs whose experience saved me a lot of time and money.
The expanded NEIS program is a great initiative to empower more individuals to back themselves, create wealth and employment and become the entrepreneurs of the future.
Rusty and Restored business owner Damien Armstrong who specialises in repairs, customisation and restoration in Rockhampton is enjoying running and working in his own business. “It’s very rewarding when I see the satisfied look on my customer’s face when the job is completed to their expectations. I can only see my business growing stronger and stronger from here on,” Damien said.
If you know someone who needs that little bit of encouragement and support to start their own business tell them to visit business.sarinarusso.com to learn how they can realise their business dream under the expanded New Enterprise Incentives Scheme.