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New Enterprise Allowance Boost for Budding Entrepreneurs

5th January 2011

It has just been announced that the New Enterprise Allowance (NEA) will be made available to nearly twice as many people as originally intended.  The allowance is part of a scheme which provides support and funding to budding entrepreneurs who are struggling to get things off the ground.  It couldn’t come at a better time with the looming public sector cuts and due to high demand the allowance will only be made available to unemployed workers who have been claiming Jobseeker’s Allowance for six months or more. 

The start-up loan will be awarded to entrepreneurs with a prepared business plan – which has to be approved by one of the scheme’s business mentors – and the mentor will also provide guidance during the early stages of the business itself.  Entrepreneurial speakers such as The Apprentice winner Tim Campbell are keen to support start-up business plans and put their money where their mouth is. 

Tim is the Founder and CEO of The Bright Ideas Trust which seeks to provide funding, mentoring, business guidance, and even business training and educational programmes to budding business owners. The Trust is supported by a range of companies from Accenture to JPMorgan Chase and Bank of America and Tim has experienced the benefits of mentorship himself having been under the tutelage of Lord Alan Sugar for two years following his Apprentice win. 

Entrepreneurial speakers including James Caan, Karren Brady, Peter Jones and Kanya King provide invaluable wisdom when it comes to setting out as an entrepreneur in the business world and the focus on leadership, innovation, strategy and communication are essential. We look forward to seeing how helpful the NEA proves to be!

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