Sole Trader-----Worth While?!?

NateCo

Hey guys,

So like many people in Ireland at the moment i am unemployed and extremely anxious to do something with my time, besides burn myself out looking for jobs(6 months looking constantly). I am looking at setting a small business selling goods to other businesses. This only going to be keeping me busy and will not have much of a turn over.

Last week i bumped into a person i havnt seen in a while and they suggested this to me, as, according to them, i can keep my full job seekers benefit for the first year if my business is not making over a certain amount. i have looked at citizens information and other websites in relation to this but havnt managed to find anything substantial yet, im gonna keep looking.

So my question basically: Is this possible in any sense? Has anyone out there heard of anything like this???

dbran

Yes

It is called the Short Term Enterprise Allowance and it allows you to keep you benefits for 9 months to a year while you go about setting up a business.

All the info is here.

http://www.citizensinformation.ie/en/social_welfare/social_welfare_payments/social_welfare_payments_and_work/short_term_enterprise_allowance.html

Kind Regards

Dbran

NateCo

Thats briliiant. I dont know how i missed that. thanks so much:D

niceview

Is there any equivalent scheme for people on jobseekers allowance?

brimal

niceview wrote: »

Is there any equivalent scheme for people on jobseekers allowance?

Yes, Back to Work Enterprise Allowance (BTWEA)

Hanley

dbran wrote: »

Yes

It is called the Short Term Enterprise Allowance and it allows you to keep you benefits for 9 months to a year while you go about setting up a business.

All the info is here.

http://www.citizensinformation.ie/en/social_welfare/social_welfare_payments/social_welfare_payments_and_work/short_term_enterprise_allowance.html

Kind Regards

Dbran

What's the criteria like around qualifying jobs?

If you're a contract worker and the contract finishes without being renewed do you still qualify?

VERY interesting scheme. THanks for posting.

dbran

Hanley wrote: »

What's the criteria like around qualifying jobs?

If you're a contract worker and the contract finishes without being renewed do you still qualify?

VERY interesting scheme. THanks for posting.

As far as I am aware, you must have an underlying entitlement to Job Seekers Benefit. So you must have been paying the A stamp for PRSI for a number of weeks. A contract worker suggest that you were self employed in your last job. If this is the case you may be ineligable.

You could go on the back to work enterprise allowance but I believe that only kicks in after a year.

http://www.citizensinformation.ie/en/social_welfare/social_welfare_payments/social_welfare_payments_and_work/back_to_work_enterprise_allowance.html

Regards

dbran

MOH

The STEA basically functions as a replacement for Jobseekers Benefit, you have to meet the qualifying criteria for JB (or already be on it), and will be paid for 12 months, or however long your JB has left to run if you're already on it.
You should get approval for the business before starting it up. As far as I know it doesn't have to be a sole trader, you can set up a partnership or company. Talk to your local enterprise centre, your social welfare office should be able to point you in the right direction.

There's also a TAT fund, used to be up to €1000, think it's about €750 now, towards startup costs which you may be able to apply for. While it was helpful, I found that the delays in getting the whole thing approved and made meant that I would possibly have been better off not bothering with that aspect.

As far as I know the BWEA is what you're looking at if you've been out of work for more than 12 months, and has different qualifying criteria and rules.