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The New Enterprise Incentive Scheme (NEIS) has been helping Aussies to have a go at starting their own small business for more than 30 years. This week, the Minister for Employment, Senator Michaelia Cash, launched a booklet to commemorate the NEIS program’s 30th Anniversary.
The booklet contains 30 NEIS innovative business success stories that not only showcases the NEIS programme’s achievements over the past three decades, but also illustrates self-employment and entrepreneurism as an alternative option to paid employment for job seekers.
The NEIS was established in 1985 and is now a key part of the Australian Government’s jobactive service.
Launching the booklet in Perth yesterday, Minister Cash said the scheme has supported more than 150,000 job seekers and played an important role in fostering enterprise.
“Small business is vital to a strong economy and a prosperous nation, however, too many innovative ideas remain unrealised without adequate support and that’s why NEIS is so important,” Minister Cash said.
“NEIS is a great way to help those who are out of work transition into a situation where they not only create gainful employment for themselves but opportunities for fellow Australians.”
“I encourage anyone looking for a job to consider starting their own business and to contact their local jobactive provider to find out how NEIS may be able to help them.”
The “30 Years of Success” booklet can be downloaded at https://docs.employment.gov.au/node/35956
What is NEIS?
The New Enterprise Incentive Scheme (NEIS) is a program delivered by a network of 21 providers around Australia who provide individualised help for job seekers to become self-employed business owners. A total of 6,300 NEIS places are available nationally each year.
NEIS provides job seekers with:
- accredited small business training and business mentoring for up to 52 weeks;
- income support for up to 39 weeks (NEIS Allowance) and NEIS Rental Assistance for up to 26 weeks (if eligible); and
- personalised mentoring and support from a NEIS provider in the first year of the new business to help a job seeker put their business idea into practice.
If you are a job seeker registered with jobactive or Disability Employment Services you can talk to your provider or call the Employment Services Information Line on 13 62 68 for more information.
When the program was first established in 1985, NEIS also provided a small Government grant to cover the costs of starting a new business, but this was abolished some years ago. Today, the NEIS doesn’t provide any start-up money.
For information about sources of funding for small business please see our post Where to Get Finance for Your Small or Medium Sized Business in Australia.