Business Owners Eligible For Support With NEIS
November 20, 2020
Business owners with up to four employees are now eligible for free business training and mentoring support through the Australian Government’s New Business Assistance with NEIS program (NEIS).
Effective from December 7, NEIS will evolve to include providing assistance to existing micro-business owners or sole traders as well as individuals looking to start their new business idea.
If your business has been affected by COVID and you would like the chance to finetune your business skills and ongoing mentoring support to prepare your business for the COVID-world, then you could be eligible to participate in the New Business Assistance with NEIS.
This is a significant shift in the program as these existing businesses can seek help to reposition and refocus their business to adapt to economic pressures created by COVID-19. Existing participants can also choose to access the Government’s Coronavirus Supplement if they receive an eligible income support payment.
Existing micro-businesses will need to demonstrate that their business income was substantially reduced because of COVID-19. This could include:
- profit and loss statements from two comparable periods;
- income statements;
- bank statements;
- where quantitative data is not readily accessible, a statutory declaration confirming the reduction in business income and the cause will also be acceptable; and/or
- confirmation that the business has received a JobKeeper payment from the ATO.
Have a question about what the new government changes means for your business? Our NEIS admin team are here to help. You can email them here.
Wesley Central, Suite 103/2
Fremantle WA 6160
PO Box 1616, Fremantle WA 6959