First meeting with Princes Trust lass

[cam_low]

I now have all my business plan put together. Though I don't know what to do next with regard to going completely on my own or going through the Jobcentre and ImBiz. With that, I basically get JSA plus training allowance and NETT course paid for...snag is, I have to put all my earnings into the bank and cant touch them for 6 month and have to live off the above JSA and training allowance. Basically 60 quid a week.

Or do I go all out and stick with only the PT ?

HELP ! Dilemma !

 

[grumpygrouter]

Re: First meeting with Princes Trust lass - please move this to T Arms thanks

How can they say you can't touch the money you have earned? What is the reason behind this? Can you point me to a website so I can look at that for you?

Grumpy

 

[cam_low]

Re: First meeting with Princes Trust lass - please move this to T Arms thanks

http://www.inbiz.co.uk/

I dont know the reason behind it, its only for 6 months and I wont pay any tax or ni as the JSA covers it, as essentially I am constantly looking for work being self employed.

I've looked into it a bit further and it appears if it goes **** up I wont have as many problems as I would have if I was on my own with a PT loan.

so essentially i think i have answered my own question !

 

[Fekin]

Re: First meeting with Princes Trust lass - please move this to T Arms thanks

:lol: ...........

 

[GatesheadCol]

I can answer the question for you mate. I used to work in a jobcentre as an advisor.

The governemt states in its white paper that they will help you while you start out with providong you with JSA to help you get started. Now the problem is that JSA is income based ( because you have to be claiming for a certain preiod If I remember rightly its 6 months to get the help, and Income based JSA kicks in after 6 months)

So the problem is that in order to get it you technically have to be earing nowt. Otherwise they would take the JSA away from you.

If you think about it, its a good deal to be honest since in order to get JSA which is Job Seekers Allowance you have to be looking for work and available to take up employment. So they are effectively saying you dont need to look for Employment during this time (not self employment), Also if your entitled you will be getting housing benefit etc etc etc. If you are then drawing your self employed earnings your JSA would stop and so would any housing benefit etc etc, and of course theres the tax and NI break.

 

[GatesheadCol]

Here grumpy,



At the end of it you have access to all profits of course

 

[GatesheadCol]

Boosha,

Beware, although you have access to any profits at the end you are also responsible for any losses.