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Set up new business before or after being made unemployed

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  • 21-01-2014 1:47pm
    #1
    somahoney74
    Registered Users Posts: 51 ✭✭


    Hi all,
    I'm more than likely going to be made redundant over the next couple of months,after having looked at what the going rates for employment I've decided I'd be better off having a go at setting up my own little business as I have an idea and reckon it could work out.

    My question is should I wait till I'm made redundant and approach welfare for support. From what I can gather, they seem to be handy out money all over the place to get people off the dole.

    Thanks in advance for your replies.
    S


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    #2
    Peterdalkey
    Closed Accounts Posts: 2,091 ✭✭✭Peterdalkey


    They are very unreasonable and will want you to have a business idea, a basic business plan and may even want you to do a start your own business course!! Not really what I would call handy money.

    I am not sure whether the enterprise officer will give you an initial appointment while you are not yet made redundant, but a call to your local employment services office will sort that.


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    #3
    sandin
    Closed Accounts Posts: 1,594 ✭✭✭sandin


    I don;t think welfare will give you support as you won't be actively "looking for work" however there are all sorts of incentives for new business one of which is the seed capital scheme.


    http://www.revenue.ie/en/tax/it/leaflets/it15-seed-capital-scheme.pdf

    The Eiis scheme is also good if you have high earning family or friends willing to invest.


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    #4
    Peterdalkey
    Closed Accounts Posts: 2,091 ✭✭✭Peterdalkey


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

    The STEA is well worth considering too.


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    #5
    somahoney74
    Registered Users Posts: 51 ✭✭somahoney74


    Peterdalkey wrote: »
    They are very unreasonable and will want you to have a business idea, a basic business plan and may even want you to do a start your own business course!! Not really what I would call handy money.

    I am not sure whether the enterprise officer will give you an initial appointment while you are not yet made redundant, but a call to your local employment services office will sort that.

    Hi Peter,

    I have all the above done, I recently set up a business with my wife, the new business while totally seperately would have a lot of synergies to this business. I received no support as such with the wife's business, while the social welfare set up three similar business over a two month timeframe in the same area. I'm not looking for handy money, just the same support provided to others. I'll contact the local office. Thanks.


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