Assistance for budding entrepreneurs back on track

The first details have emerged of the Federal Government’s replacement for a recently abolished program designed to help the unemployed start their own businesses.

The first details have emerged of the Federal Government’s replacement for a recently abolished program designed to help the unemployed start their own businesses.

The National Employment Incentive Scheme, which provided training and financial assistance to budding business owners, was recently cut after 23 years of successful operation.

But new draft arrangements set out by Employment Participation Minister Brendan O’Connor would see up to 18,900 places made available through a revamped NIES.

Under the program, job seekers will receive assistance to develop a business plan, mentoring and financial support in the form of an allowance for their first year of operation. They must first complete a business training qualification.

The draft would also see a shake-up of the employment services sector, with new mechanisms for delivering government funding and changes to the work for the dole program.

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