Over the next two years, the Federal Government will be spending $5.7 million to give more aspiring micro business owners access to income support, mentoring and training programs.

From October 15 under the new changes, people can access NEIS and start their own business if they are working 25 hours per week or less. This means individuals who work part time, study or have caring responsibilities can also participate in the program on a part-time basis.

The extended eligibility will also give operators of existing micro business (with one to four employees) access to the same support services if their business has been directly affected by the pandemic. This new change comes into effect December 7.

In summary, the new government for the NEIS provide include:

  • From 15 October 2020, people can access NEIS and start their own business if they are working 25 hours per week or less. This will enable people with part-time work, study, or caring responsibilities to participate in the program alternatively on a part-time basis.
  • From 7 December 2020, existing micro-business owners impacted by COVID-19 can access NEIS if they need help to keep their business running or refocus their operations to meet new areas of demand.

There are now 8,600 places available in the program each year.

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.

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