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Business News

  • Written by Senator Cash



The Turnbull Government today launched the Encouraging Entrepreneurship and Self-Employment initiative to encourage young Australians to start their own business.

 

Minister for Employment Senator the Hon Michaelia Cash said the initiative will provide practical support to young people who want to turn their business idea into reality and create a job for themselves and other Australians.

 

“Self-employment and entrepreneurship are real options for young people who are unemployed, but only a small number of them choose to pursue such opportunities,” Minister Cash said.

 

“This initiative will help support young people to develop their ideas into a business.”

 

The Encouraging Entrepreneurship and Self Employment initiative includes four key measures:

  • SelfStart online hub — this new website will be the starting point for young people who wish to explore and develop their ideas into a successful business. SelfStart will connect young people to existing services and programs, as well as provide information that will assist them to start a business. SelfStart is located at www.jobactive.gov.au/selfstart
  • ‘Exploring being my own boss’ workshops — these workshops are designed to engage potential entrepreneurs and provide them with a taste of what is involved in self-employment and entrepreneurship. Workshops will be delivered nationally by existing New Enterprise Incentive Scheme (NEIS) providers, with 1,000 places available each year.
  • Entrepreneurship Facilitators — these facilitators will be located in three regions where there is high youth unemployment and low rates of youth self-employment—Cairns, Hunter (including Newcastle) and Launceston–North-East Tasmania. The facilitators will promote entrepreneurship and self-employment and support potential entrepreneurs to establish their own businesses, including connecting them to existing services and programs. 
  • Expansion of NEIS — this will help to create more places where young people can be trained and mentored on how to start their own business. The eligibility criteria for NEIS will be broadened to allow job seekers who are not in employment, education or training, including those who are not on income support, to access the scheme. An additional 2,300 NEIS places will be funded each year, making a total of 8,600 places available annually.

While these measures are primarily focused on young job seekers, people of all ages and backgrounds seeking assistance to start their own business may access them provided all other eligibility requirements are met.

 

For more information about Encouraging Entrepreneurship and Self-Employment, please visit www.employment.gov.au/youth