Bill Wiggin MP has congratulated 50 new businesses started by people moving off benefits in North Herefordshire.
New figures published this month show the Government’s New Enterprise Allowance Scheme has helped support 50 people in North Herefordshire to move off benefits and start their own business since April 2011.
Bill Wiggin MP said: “I offer my sincere congratulations to every one of the 50 new business owners who have taken that huge first step of starting their own business.
It’s excellent news so many people in North Herefordshire have been helped to get off benefits and realise their dream of starting their own businesses and being their own boss.
Small businesses are a hugely important part of our community and vital to local jobs, that’s why the Government is supporting small businesses with more than 40,000 new businesses started nationally under the scheme.
Each new job these businesses create is another family in North Herefordshire with the security of a regular pay packet.”
The Enterprise Allowance Scheme – which supports people on out of work benefits to start their own business – has helped more than 46,000 people across the country to set up successful businesses since it was introduced in April 2011.
The support available to people starts with help from a business mentor to develop their business idea. Then, once they have got the business up and running, and have moved off benefits, they are eligible for 26 weeks of financial support as they get their business going.
Notes to Editors
- The New Enterprise Allowance helps people on out of work benefits start their own business. The scheme, launched in April 2011, gives people on out of work benefits support to get off benefits and running their own business. Initially participants are given guidance and support to develop their business plan and through the first six months of training by a voluntary business mentor. Once they can show the business is viable and has the potential to grow they are given access to financial support worth £1,274 over 26 weeks to help them get their business going (DWP, New Enterprise Allowance Quarterly Official Statistics, 17 June 2014, link).
- 46,000 people have started a business under the scheme since it was introduced. Over the past year 2,000 businesses a month have been started by people moving off benefits and becoming their own boss
o 10,610 businesses started by people aged 50 and over
o 3,370 businesses started by people under 25
o 8,590 businesses started by disabled people
- Since the election over two million private sector jobs have been created. There are now a record number of people, with 1.7 million more people in total in work since the election (ONS, Labour Market Statistics, 11 June 2014, link).
- And 408,800 fewer people claiming JSA (ibid.).