[Self Employed Youth]

http://news.sky.com/...rticle/16200711

Quote

The Youth Contract is a cash injection of £1bn to get young unemployed people earning or learning over the next three years.It includes 160,000 wage incentives worth more than £2,275 for each 18-24 year old an employer recruits and 250,000 work experience placements.

There are also 20,000 incentive payments to support employers create apprenticeships and £126m to help teenagers into education, employment or training.

I said to my advisor, now then pal, YC been announced today, £2275 subsidy for employers and I want to go self employed.

Give me my £2275 subsidy for employing an unemployed youth.

Did i get the subsidy, did I eckers?

I got offered a job in dental laboratoy. Pay you might ask? Nil. (Bet they get the subsidy!)

How can I compete as a self employed person if I compete with businesses with subsidised labour. I need that £2275 in order to compete!

[Russe11]

agreed it is a joke some of these handout employers are getting, there is one scheme where they get an initial £600 then other amounts after a period of employemnt, these amounts are more than the min wage! Charities are saying they can't afford to take people in on these scheme because its not cost effective for them, they are not even paying the wages.

Have you been on NEA? I was on the old scheme it kinda worked but really to get a viable income stream after 3 months is quite difficult.

[enrieb]

You could apply for the enterprise allowance scheme for setting up a business.

http://www.dwp.gov.u...rise-allowance/

[Self Employed Youth]

I'm booked in to get put onto NEA on 18th April. (My advisor is on holiday next week, you see - he is actually a good bloke, there is him and a few others at Barnsley job centre that are really good, they do actually help you to get back to work, albeit within the constraints of the system).

Business plan, everything ready for me to go. Just need to get onto NEA, off the unemployment figures. Police license to trade in the street is on its way in post, I'm ready to rock and roll off the dole!

Only way I can find out if it works is to ump in and test the market. (Really need to be on NEA though as I have some part time work coming up also - I can do this in between my self employment) - if I do one lot of part time work without being on NEA I will do a 16 hour shift for just £5. Need to know when I get put onto NEA because I will drop that shift post haste if I can't get on NEA in time!

[Nationalist]

This time next year Rodney...

[Russe11]

Seasonally Employed Youth, on 02 April 2012 - 01:07 PM, said:

I'm booked in to get put onto NEA on 18th April. (My advisor is on holiday next week, you see - he is actually a good bloke, there is him and a few others at Barnsley job centre that are really good, they do actually help you to get back to work, albeit within the constraints of the system).

Business plan, everything ready for me to go. Just need to get onto NEA, off the unemployment figures. Police license to trade in the street is on its way in post, I'm ready to rock and roll off the dole!

Only way I can find out if it works is to ump in and test the market. (Really need to be on NEA though as I have some part time work coming up also - I can do this in between my self employment) - if I do one lot of part time work without being on NEA I will do a 16 hour shift for just £5. Need to know when I get put onto NEA because I will drop that shift post haste if I can't get on NEA in time!

are you borrowing the £1000, seems a bit harsh you have to have some of it as a loan where as employers can just have the full wack plus a pound.

you will be claim working tax credits based on the 30hour element I assume on top?

[Self Employed Youth]

Nationalist, on 02 April 2012 - 01:12 PM, said:

This time next year Rodney...

As a young Delboy I'd managed to build up some considerable savings by the age of 16. Lost most of it when 19 along with the temporary loss of my work ethic (why work if all you earn/create can be stolen in an instant and the police care not...).

I ain't going to be a millionaire in a year unless we have hyperinflation, but I can at least try and be better off than dole.

[Self Employed Youth]

Russe11, on 02 April 2012 - 01:12 PM, said:

are you borrowing the £1000, seems a bit harsh you have to have some of it as a loan where as employers can just have the full wack plus a pound.

you will be claim working tax credits based on the 30hour element I assume on top?

I am a youth, I have no children, I am ineligible for working tax credits.

I will not be taking the loan. I am trying to source a loan from family/friends. One neighbour is happy to give me a loan (but I'd rather get one from family). £300 is all I need to start up (overestimated by £100), produce 250 units/batch of product. £100/batch. Profit per batch IRO 150-400. Need to sell 250 units per week (could be a hard push - might need to travel a bit to do so). 400 profit based upon sale price of product of £2 (in shops it is £3), (on net it is £2 - I will be looking to expand into said market at product price of £1.50 in due course).

[eek]

Seasonally Employed Youth, on 02 April 2012 - 01:21 PM, said:

I am a youth, I have no children, I am ineligible for working tax credits.

I will not be taking the loan. I am trying to source a loan from family/friends. One neighbour is happy to give me a loan (but I'd rather get one from family). £300 is all I need to start up (overestimated by £100), produce 250 units/batch of product. £100/batch. Profit per batch IRO 150-400. Need to sell 250 units per week (could be a hard push - might need to travel a bit to do so). 400 profit based upon sale price of product of £2 (in shops it is £3), (on net it is £2 - I will be looking to expand into said market at product price of £1.50 in due course).

1 quick question how quickly will you get paid. If you are not paid immediately you are going to need more than £300 to tide you over.

[juvenal]

Seasonally Employed Youth, on 02 April 2012 - 01:21 PM, said:

I am a youth, I have no children, I am ineligible for working tax credits.

I will not be taking the loan. I am trying to source a loan from family/friends. One neighbour is happy to give me a loan (but I'd rather get one from family). £300 is all I need to start up (overestimated by £100), produce 250 units/batch of product. £100/batch. Profit per batch IRO 150-400. Need to sell 250 units per week (could be a hard push - might need to travel a bit to do so). 400 profit based upon sale price of product of £2 (in shops it is £3), (on net it is £2 - I will be looking to expand into said market at product price of £1.50 in due course).

Good luck. Keep us posted on progress..

[Self Employed Youth]

eek, on 02 April 2012 - 01:48 PM, said:

1 quick question how quickly will you get paid. If you are not paid immediately you are going to need more than £300 to tide you over.

All transactions will be carried out in cash. For numerous reasons...

(NEA -New enterprise allowance pays you [tax free] £65 a week for 13 week, £33 for 13 more and then you off the dole completely). My day to day living allowance will be greater under this scheme for the first 13 weeks, 65 vs 53.45 I currently receive.

I have ramped up homebrew production capacity and production in anticipation, and have ample stores of most foods. Living expense are tending towards nil.

Even if I make a loss I shall be 'better off' so to speak.

Just need to get out there and test the market. I can currently compete and undercut without compromising quality. I can sell there and then in the street and provide a new service entirely to what is on offer (why walk into a shop and pay more when a street trader is stood outside selling the same thing for less!).

I just have to see whether or not the market responds. If it is a go-er, then I be off the dole and into business, looking towards taking on (subsidised) staff of my own. (I have already calculated scale up costs and scale back down, have accountant on hand if needs be) Just have to see if people want the service/product. If not then I back on dole.

[Self Employed Youth]

juvenal, on 02 April 2012 - 01:50 PM, said:

Good luck. Keep us posted on progress..

Will do!

Am currently posting on another forum (specifically related to the type of self employment I will be embarking on), and will divert traffic from here to there to 'see the journey' in due course.

One man has already got himself off of the dole and into self employment.

Hopefully more can do so, and said forum will provide a wealth of information for people who wish to take said path. (And I've already been including hpc style posting upon there to educate the masses )

[easy2012]

Seasonally Employed Youth, on 02 April 2012 - 12:27 PM, said:

Give me my £2275 subsidy for employing an unemployed youth.

Get your relative to setup a Ltd company online, employ you to make a website, then shut down the company... will that work ?

Government subsidies (especially made in cash) always end up creating problem and that is why the government should takes its hand off.

Would you consider moving to the South East though? We got many PIGS european moving here nowadays, renting a room and then look for jobs (and maintain a log) - no government help and quite a few succeeded.

[Self Employed Youth]

easy2012, on 02 April 2012 - 02:50 PM, said:

Get your relative to setup a Ltd company online, employ you to make a website, then shut down the company... will that work ?

Government subsidies (especially made in cash) always end up creating problem and that is why the government should takes its hand off.

Would you consider moving to the South East though? We got many PIGS european moving here nowadays, renting a room and then look for jobs (and maintain a log) - no government help and quite a few succeeded.

I am born and bred AND will die in Yorkshire. Wouldn't fancy moving/commuting further South than Chesterfield...

[Oki]

Seasonally Employed Youth, on 02 April 2012 - 01:21 PM, said:

I am a youth, I have no children, I am ineligible for working tax credits.

I will not be taking the loan. I am trying to source a loan from family/friends. One neighbour is happy to give me a loan (but I'd rather get one from family). £300 is all I need to start up (overestimated by £100), produce 250 units/batch of product. £100/batch. Profit per batch IRO 150-400. Need to sell 250 units per week (could be a hard push - might need to travel a bit to do so). 400 profit based upon sale price of product of £2 (in shops it is £3), (on net it is £2 - I will be looking to expand into said market at product price of £1.50 in due course).

Sandwiches?