New Enterprise Incentive Scheme (NEIS)

Have you ever thought about working for yourself? If the answer is yes then the New Business Assistance with New Enterprise Incentive Scheme (NEIS) may be the answer to help you start your business on solid foundations.

New Business Assistance with NEIS is a Commonwealth Government initiative, which provides a comprehensive package of assistance to eligible people to help them start their own businesses.

Are you eligible for NEIS?

• be at least 18-years-old when they start NEIS Assistance
• be available to participate in NEIS Training (if relevant) and work the required hours in the proposed NEIS Business
• not be prohibited by law from working in Australia
• not be an overseas visitor on a working holiday visa or an overseas student studying in Australia
• not participated in NEIS in the past year
• not be an undischarged bankrupt

Is your business idea eligible for NEIS?

• is either not currently operating on a commercial basis or is an existing micro-business owner/sole trader seeking to refocus their business in response to COVID-19
• has an independent structure
• is lawful and capable of withstanding public scrutiny
• has been assessed as commercially viable by your NEIS provider
• will be established, located and operated solely within Australia
• is structured so you have and maintain a controlling interest over the NEIS business while participating in New Business Assistance with NEIS.

If you’ve answered YES keep reading!

How does NEIS work?

• Assistance includes small business management training and business plan development,
• New Business Assistance with NEIS Allowance for up to 39 weeks (if eligible)
• New Business Assistance with NEIS Rent Assistance for up to 26 weeks (if eligible)
• PLUS a mentor and on-going support during the first year of business operation.

Business Foundations

NEIS Assistance includes small business management training and business plan development,

Participants in the NEIS program will attend accredited training helping them develop their business strategy and financials. New Hunter Business works with The Business Centre’s Registered Training Organization to deliver flexible accredited training from qualified trainers.

NEIS Business Mentoring

After you start your NEIS business, you will be allocated a Mentor who will offer you with business coaching and guidance for a period of 12 months. NEIS mentors are individuals who have demonstrated business acumen and experience in marketing, finance, accounting, or other essential business expertise that enable them to fulfil the obligations of a NEIS mentor. NEIS mentors support and advise NEIS Participants on organisational, functional, and marketing challenges, as well as referrals to expert business specialists.