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Ideas for Self Employment

Are you over the age of 50 and interested in setting up your own business?

The Prince’s Initiative is a Charity established by His Royal Highness The Prince of Wales to support people over the age of 50 who are either unemployed or who are facing redundancy to set up their own businesses. The Prince’s Initiative helps the over 50 entrepreneur explore self-employment through offering the following services: Regional courses all over the UK to help the over 50s such as: ‘Introduction to Self-Employment’ for those who are Read More...

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If you have a good business idea, working for yourself can be very rewarding, but it can take a lot of hard work and dedication. If you want to become self-employed, find out about the free help and support available, and whether you qualify for the weekly self-employment credit.

Getting started with your business idea

There are lots of good reasons for wanting to work for yourself, like:

  • having a great idea or passion that could be turned into profits
  • wanting to work from home to fit in better with family commitments
  • wanting to take more control of your life and be your own boss

If you get it right, being self-employed can be exciting, rewarding and challenging.

Information and support for new businesses

If you want to become self-employed, there is plenty of free information, advice and practical support available for you. You can get help with topics like:

  • how to plan a business
  • how to raise finance
  • how to make sure you have enough to live on while you get your business off the ground

Support is available for both new and existing businesses, and can help you meet all the legal and financial requirements of being self-employed.

Business Link, Business Gateway and Flexible Support for Business

You can find information, advice and support to help you start, maintain and develop your business from the following places:

  • England - Business Link
  • Scotland - Business Gateway
  • Wales - Flexible Support for Business

What other help is available

As well as the general help and advice available from Business Link, Business Gateway and Flexible Support for Business, additional support is also available for jobseekers through Jobcentre Plus.

Support may be available if both of the following apply:

  • you are claiming Jobseeker's Allowance
  • you have been unemployed for 13 weeks or more

The financial support available can include a self-employment credit of £50 a week paid for up to 16 weeks. This may be payable when you start trading or make the move into self-employment.

If you are interested, talk to your Jobcentre Plus personal adviser for more information.

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