New Business Assistance with New Enterprise Incentive Scheme (NEIS) can help individuals realise their dream of becoming self-employed entrepreneurs. Over the last 36 years, NEIS has helped over 194,000 people become their own boss by starting their own business. NEIS offers free accredited small business training, business plan development and business mentoring.
You can directly approach a NEIS provider located in your area. You can find a list of NEIS providers at Find a Provider. You can also contact your local jobactive, ParentsNext or Disability Employment Services provider or the Department of Education, Skills and Employment’s National Customer Service Line to discuss if NEIS is right for you.
Your NEIS provider will assess your business idea to ensure it meets the business eligibility criteria. This means your proposed business:
- is either not currently operating on a commercial basis or is an existing micro-business owner/sole trader seeking to refocus their business in response to COVID-19
- has an independent structure:
- is lawful and capable of withstanding public scrutiny
- has been assessed as commercially viable by your NEIS provider
- will be established, located and operated solely within Australia
- is structured so you have and maintain a controlling interest over the NEIS business while participating in NEIS
Training and Mentoring
NEIS training helps you achieve a nationally recognised qualification. Based on the business you are planning, a NEIS provider will refer you to appropriate training which may be either a
- Certificate III in Entrepreneurship and New Business, or
- Certificate IV in Entrepreneurship and New Business
During the training, you will develop a Business Plan which will need to be approved by your NEIS provider.
On the other hand, mentoring is an essential part of NEIS. You will receive business mentoring during the first year of operating your new business. Business mentors are people with business experience who provide assistance and advice about organisational, financial and marketing issues to help you develop your business.
Eligibility and Criteria
The Australian Government has expanded access to NEIS so that:
- serving members of the Australian Defence Force (ADF) with an identified transition date, and eligible family members of serving ADF personnel, will be eligible to access Exploring Being My Own Boss Workshops and NEIS Training
- people can access NEIS and start their own business if they are working 25 hours per week or less. This will enable people with part-time work, study or caring responsibilities to participate in the program on a part-time basis
- existing micro-business owners impacted by COVID-19 can access NEIS if they need help to keep their business running or refocus their operations to meet new areas of demand.
To participate in New Business Assistance with NEIS you need to meet a range of eligibility criteria. You’ll need to:
- be at least 18 years of age when you start your NEIS business
- be allowed to legally work in Australia
- be available to work the required hours in your proposed NEIS business
- have not received NEIS Assistance in the past year
- not be an undischarged bankrupt
Treadstone experts can help you understand government grants and maximise the benefits for your business. We have been helping clients since 2008 and our clients can testify to our proven success record. Working with us means you get the maximum grant with minimum risk and effort. Our expertise include R&D Tax Incentive registration and tax schedules, Export Grants, Capital Expenditure and Infrastructure Grants.
Get in touch with us and let’s discuss this more in detail.
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