02 March 2017

More incentives to launch your own business

I am delighted to welcome the Turnbull Governments introduction of more incentives to help Corangamite residents launch their own business.

Now is the time to take charge of your career and consider becoming your own boss, with greater Government support to encourage self-employment and entrepreneurship.

The expansion of the Turnbull Government’s highly successful New Enterprise Incentive Scheme (NEIS) and a number of other measures introduced late last year, help people wanting to turn their business idea into reality.

Young people especially have so many new and exciting entrepreneurial ideas – but only a small number of them choose to pursue this path. Recent changes to the eligibility criteria and the opening of new places in NEIS will provide even greater opportunity for young entrepreneurs.

I have spoken to many businesses in the region and it is clear that initiatives like the New Enterprise Incentive Scheme provide more opportunities for self-starters.

The scheme not only contributes to the establishment of more businesses, but in turn will benefit the wider community and economy.

NEIS provider, Netgain believes that the NEIS program is an effective way to jump start small businesses.

The expansion of NEIS will help to create more opportunities for young people to be trained and mentored on starting their own business. The eligibility criteria for NEIS has also been broadened to allow people who are not in employment, education or training – including those who are not on income support – to access assistance.

An additional 2,300 NEIS places per year bring total number of places available annually to 8,600.

This expansion is accompanied by extra support for entrepreneurs, including:

  • SelfStart online (www.jobactive.gov.au/selfstart) — a starting point for young people wanting to explore and develop their ideas into a successful business. SelfStart connects young people to services and programs, as well as provides information assisting them to start a business.
  • ‘Exploring being my own boss’ workshops — workshops to engage potential entrepreneurs and provide them with a taste of what is involved in self-employment. Workshops are delivered nationally by New Enterprise Incentive Scheme providers, with 1,000 places available each year.

For more information about the New Enterprise Incentive Scheme, please visit www.employment.gov.au/youth

2 March 2017