New year, new start for aspiring entrepreneurs as Wenta continues to deliver NEA support

A programme that supports the unemployed in becoming self-employed has been extended.

The Department of Work and Pensions have recently announced great news for unemployed would-be entrepreneurs looking to start-up in 2013 as their New Enterprise Allowance Scheme, which provides financial support and expert coaching to job seekers starting up their own business, will be extended from March 2013 to September 2013. The extension follows evidence of a ‘strong uptake’ in the programme’s first year. According to official statistics, at the end of May 2012, 8,180 businesses had been set up through the NEA.
It was announced that the scheme, delivered by Wenta across Hertfordshire and Bedfordshire, is to be made ‘easier’ too, in a proposal to back those who have the determination to start their own business. The current three month long wait for business mentor support is to be abolished and jobseekers will now be able to access the support instantly, as soon as they start claiming JobSeekers Allowance (JSA). Financial support is to become instantly accessible too - to those who can produce a viable business plan. The financial support, which is worth more than £1,000 over six months, is to be used to help with start-up costs.

The Prime Minister, David Cameron said: “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. It doesn’t matter what your background is or whether you are out of work, if you are prepared to work hard and aspire to achieve more, this Government, through schemes like the Enterprise Allowance, will back you.”

Hertfordshire and Bedfordshire’s Enterprise Agency, Wenta, have played their role very well in all of this - achieving excellent results for the region since the start of the programme.  Peter Cabon, Director of Advisory and Education Services at Wenta, said:

“To date, Wenta have helped to start 321 businesses across Hertfordshire and Bedfordshire through the NEA programme. 119 of these businesses have already completed six months of trading supported by their Wenta business mentor and new businesses starts are currently running at 25 -30 per month.”

These results have had a significant impact on the local economy and helped to reduce the unemployment figures locally. The extension of the scheme will enable Wenta to continue to support Jobseekers across the counties. Since the NEA scheme has been running, Wenta has helped and supported an eclectic variety of business start ups – varying from cafes, florists and mechanics to reflexologists, forensic scientists and even, paranormal investigators.
Wenta will continue to deliver the NEA scheme to Hertfordshire and Bedfordshire jobseekers until the end of September 2013. It is estimated that 40,000 new businesses will be created in the UK by the end of 2013 as a result of the programme.

For further information on Wenta and the support services available please contact us.