How to get £1,274 to start your own business on Universal Credit

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BUDDING entrepreneurs on Universal Credit can get £1,274 to start their own business. The cash is available under the New Enterprise Allowance (NEA), which aims to help unemployed Brits set up on t…

Government figures released in January showed that more than 250,000 people have launched their own businesses with NEA support between April 2011 and June 2020.We've teamed up with Camelot to give 50 Kitchen Table entrepreneurs a helping hand to launch their business dream.Our panel of experts will choose the winners and grants will be allocated in June and July.And in the four months to June last year alone, nearly 3,000 jobseekers set up on their own.

You may be eligible for support if you're over 18 and you or your partner get Universal Credit, Jobseeker’s Allowance or Employment and Support Allowance.If you already run your own business but want help to develop it, you can get support if you're on Universal Credit.How much you'll get depends on your individual circumstances and whether you're already self-employed.

This is paid out at £65 a week for the first 13 weeks and is then followed with £33 a week for a further 13 weeks.You don't need to pay back the allowance, but keep in mind the latter is a loan so you'll be required to pay this back.If you already have an existing business, you may be able to get a mentor who'll give advice to help you progress further.How do I apply?They'll check your business idea and help you if you're eligible.

 

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On what planet are tories living on? I support the idea but what business could you start with just £65 a week? 🥴😂😦

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