Jobseekers encouraged to become entrepreneurs under new initiative

Whitehall is encouraging jobseekers to become entrepreneurs under a revised scheme that will provide expert coaching and financial support for new businesses, freshbusinessthinking.com reports.

Terms and conditions of the the New Enterprise Allowance scheme have been amended so that those who sign on for Jobseeker’s Allowance no longer have to wait six months to qualify for start-up funds.

It is believed that an extra 70,000 people will benefit as a result of the changes, in a scheme that has already helped set up more than 8,000 businesses in the last year alone. Some of the successes to come out of the New Enterprise Allowance include a mobile dog grooming business and a fine chocolatier.

Liverpooldailypost.co.uk says that even a former voluntary group, specialising in educating young people about the dangers of crime, has turned its cause into a viable business. Perhaps one day these businesses may expand, creating great franchise opportunities that can be passed on to others.

Prime minister David Cameron said of the scheme: “If Britain is to compete on a global stage, we must do all we can to support budding entrepreneurs and build a nation where everyone aspires to great things.

“I am determined to get behind people who have ideas that will work and a can-do attitude that will turn those ideas into successful enterprises.”