North East Fife Liberal Democrat MP Sir Menzies Campbell has welcomed the news that 380 entrepreneurs in Fife, including 60 entrepreneurs in Sir Menzies’ constituency of North East Fife, have received support from a UK Government scheme that is helping create new Scottish businesses.
The New Enterprise Allowance (NEA) scheme offers financial and mentoring support to people on jobseekers allowance, lone parents and people on sickness benefits who want to start their own businesses.
New statistics show that 3,300 businesses have been created in Scotland with support from the scheme.
Commenting, Sir Menzies said:
“It’s not easy taking an idea and turning it into a viable business. That’s why it’s so important that people who want to start their own business get the support they need.
“The New Employment Allowance has helped thousands of people across Scotland into work, including 60 in North East Fife. Many of these people will be the employers of tomorrow, creating more jobs in the local and wider communities.
“By giving entrepreneurs a helping hand when they need it most we will secure a stronger economy for the future.”
The NEA is available to people over 18 who are claiming Jobseeker’s Allowance, lone parents on Income Support, or people on Employment and Support Allowance in the work-related activity group.
People on the scheme get expert help and advice from a business mentor who will help them to develop their business idea and write a business plan. If the business plan is approved, they are eligible for financial support payable through a weekly allowance over 26 weeks up to a total of £1,274. Participants can also access a loan through the Department for Business, Innovation & Skills start-up loan scheme.