ERSA welcomes the latest statistics published today which show the 85,000 businesses have now been created by those who were previously out of work, with help from the New Enterprise Allowance (NEA) scheme delivered by providers at the frontline who are specialists in this support.
In a DWP survey on NEA participants, which took place in June/ July 2015 and surveyed those who had received NEA support between November 2013 and April 2014, 80 per cent of participant were still trading by the time the survey took place, showing the sustainability of the scheme. Of those still trading, 19 per cent reported having more than one employee. NEA’s impact clearly goes beyond the individual business starter.
Kirsty McHugh, ERSA Chief Executive, said:
“Supporting someone to start their own business can be life changing. It can help someone towards financial independence and give them the confidence of ‘being your own boss’. Importantly the scheme also has a positive impact on the wider economy and local business growth.