Enterprise Allowance scheme could help new businesses

Work and Pensions secretary Iain Duncan Smith has announced that he intends to support those who have been unemployed for over six months by giving them financial backing should they wish to start up their own business – and there’s no reason why that can’t include setting up as a contractor under your own limited company! The latest proposals will give those who qualify up to £2,000 in financial support, and the Government hopes that this New Enterprise Allowance will create 10,000 small businesses. The initiative aims to help those individuals who want to get back into work and have the drive and determination to setup their own business.

If you enjoyed this story then visit our Contractor News page for all other news. To discuss this story further visit our SJD Accountancy Blog.