If you are an eligible job seeker and are interested in starting and running a small business, you may be able to access assistance through the New Enterprise Incentive Scheme (NEIS). NEIS can provide you with accredited small business training, business advice and mentoring, as well as ongoing income support for up to 52 weeks.
Its time to make your dreams a reality!
NEIS is one of the Australian Government’s longest running employment activities, and has helped more than 100 000 people develop new, viable small businesses around Australia.
Your local NEIS provider can help you put your business idea into practice. They will provide you with individualised assistance to help you achieve your goals, and will maintain regular contact with you to provide extra help if you experience any business problems or need other additional support.
Job Services Australia has set aside specific training places under the Australian Government’s Productivity Places Program for job seekers who wish to establish their own small business through NEIS. The training undertaken is a Certificate IV in Small Business Management. During the training you will develop your business plan which will then be assessed.
NEIS training helps you to achieve a nationally recognised qualification, and is a Centrelink approved activity for up to 13 weeks. This allows time for completing the course (normally six to eight weeks), assessment of your business plan by your NEIS provider and any final business preparations.
If your business plan is approved, you will receive NEIS Assistance.
While participating in NEIS you will receive NEIS Allowance for the first 52 weeks of business operation. NEIS Allowance is equivalent to the single, 21 or over, no children rate of Newstart Allowance, and is paid fortnightly in arrears, subject to you fulfilling your obligations under your NEIS Participant Agreement. An advantage of NEIS Allowance is that the amount you receive will not be affected by income from your NEIS business.
You can receive external income while participating in NEIS—that is, income from outside your business, such as from investments or other work. However, your NEIS provider is required to ensure that your NEIS business is your primary, full-time activity. Therefore, if your external income is greater than twice the basic rate of NEIS Allowance in a given financial quarter, it may affect the amount of your NEIS Allowance.
Note: Recipients of Disability Support Pension, Carers Payment, Parenting Payment (Single) and some Department of Veterans’ Affairs pensions can choose to remain on these payments while participating in NEIS.
You may also be eligible to receive NEIS Rental Assistance, which is a fixed rate payment made to you for a period of 26 weeks from the date you first receive NEIS Allowance.
Business mentoring and support is an essential component of NEIS. NEIS business mentors are people with proven business acumen and experience in marketing, finance, accounting or other relevant business skills.
As a NEIS participant you will receive business mentoring for the first year of operation of your business, including assistance and advice about organisational, financial and marketing issues to help develop your business.
Your NEIS mentor will meet with you face-to-face a number of times during this first year of operation to help maximise the potential success of your business.
To participate in NEIS you must be registered with a Job Services Australia provider. Your Job Services Australia provider can tell you if you are eligible. You also must:
* or fewer hours for those with an assessed partial capacity to work, reduced work participation requirements or who volunteer for employment services.