Enterprise initiative creates 500 new entrepreneurs

Jan. 4, 2012 - PRLog -- The national trailblazer for the delivery of the Government’s New Enterprise Allowance Initiative has supported its 500th customer to launch their own business in Merseyside.

The trailblazer for New Enterprise Allowance (NEA) was launched in Merseyside in early 2011, as a first step on the road to the national initiative which aims to support up to 40,000 unemployed people across the country to become self employed.

Merseyside was selected to deliver the trailblazer back in January, with St Helens Chamber’s Business Start Team managing the project in partnership with the other five Merseyside Chambers:  Liverpool, Halton, Sefton, Knowsley and Wirral. Building on the success of the trailblazer, with interest exceeding all expectations, the NEA was rolled out across the country by the end of August.

Customers are referred to St Helens Chamber from Jobcentre Plus. To be eligible, they must have been claiming jobseeker’s allowance for more than six months and be serious about becoming self employed.

The initiative provides mentoring support from an experienced business owner as well as financial assistance in the form of a loan and a weekly allowance for up to 6 months to help new businesses get off the ground. The mentor will help the new entrepreneur to write a business plan and answer questions on the day to day challenges of self employment.

Motorsport enthusiast James Hurst, 27, from Wallasey received advice and support through the NEA to get his business, RPM Automotive, off the ground.

James explains: “I had been looking for work since graduating with a degree in Automotive Technology. I was doing some voluntary work with a race team which gave me some valuable work experience but was struggling to find any suitable paid work that matched my skills and experience.

“Jobcentre Plus told me about the New Enterprise Allowance and it seemed like an ideal solution. I met with a business start up adviser from St Helens Chamber who explained the programme and gave me some general advice about being self employed. I was then given a dedicated business mentor who helped me with my business plan and cash flow forecasts as well as providing advice on bookkeeping and accounting.”

James’ business mentor was Paul McGerty from McLintocks Chartered Accountants and Business Advisors in Birkenhead, who provided support during the early stages of the business.
   
Paul said: “I found out about the NEA through an event held at Wirral Chamber of Commerce and Industry that highlighted how local businesses could get involved. It has been very rewarding to be able to help someone else get their business off the ground. Helping to create more businesses is also a great way of boosting the local economy here in Birkenhead, which in turn is good for our business.

“Working with James has been great. He has put in place a very realistic and achievable business plan and cash flow forecast which has given him a good footing to build the business from. I’m sure he will do well.”

Ken Davies, Chief Executive of Wirral Chamber of Commerce commented: “Reaching this milestone is a very significant achievement and a great testament to the success of the NEA Trailblazer. We are delighted that the 500th customer is located here on the Wirral and are very grateful to all the volunteer mentors who have given their time to support these fledgling businesses to start up. This is a remarkable demonstration of the real difference that our Mentors have made to so many up and coming entrepreneurs. ”

Ann Holcroft, Business Start Manager at St Helens Chamber adds: “We have recruited over 200 volunteer private sector mentors so far and we would like to thank them all for giving up their time to support the fledgling businesses and make the programme possible. We are always looking for new mentors so please do get in touch if you want to find out more about what’s involved.”

James has now completed his first month trading from his new premises on Argyle Industrial Estate in Birkenhead and so far business is going well.

“I’ve had a lot of referrals from friends and family,” says James. “So far I have mostly been carrying out services, wheel alignment and general car repairs but as the business becomes more established I hope to be able to specialise the workshop in providing services for track and rally vehicles, which is where my expertise lies.”

For more information on becoming a volunteer business mentor for the New Enterprise Allowance programme, call Ann Holcroft at St Helens Chamber, on 01744 742003 or visit http://www.sthelenschamber.com/latest/nea.

Ends.

Notes to Editors

The New Enterprise Allowance is available to Jobseeker’s Allowance customers who have been claiming for 6 months or more. Eligible applicants are referred to St Helens Chamber by Jobcentre Plus. Applications cannot be accepted directly by St Helens Chamber.

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