New Enterprise Allowance Start Up Workshop:
During this 3 hour session the customer will go through NEA self employment workshop which will cover the following points:
- An overview of what being self-employed means and the levels of commitment required to set-up and sustain a business.
- Outline of the advantages (for example, being your own boss, deciding what hours you work, and how you carry out that work etc.) and disadvantages of self-employment (for example, potentially long working hours, lack of paid holiday/sick leave, and potentially erratic income).
- A clear outline of the wider implications of self-employment, for example, the lack of paid annual leave, tax implications of being self-employed etc.
- The implications self-employment will have on any benefits participants receive, including Working Tax credits.
- How does being self-employed differ from being employed?
- Other legal/technical implications – such as health and safety regulations, insurance costs, licensing etc.
- An overview of accounting/book-keeping
- What happens when self-employed people have sickness or maternity/paternity absences?
- What skills are needed to be successfully self-employed?
- Do they need start up Finance? What is available re Start Up loans for the new business, including does the participant know their credit rating (or how to obtain one) and how this impacts on being able to qualify for a loan?
- Q&A session at end of workshop