Many people might not know they can get nearly €1,000 monthly to help them start a business
Galway: Did you know that many folks might be missing out on a monthly payment close to €1,000? This payment is designed for self-employed individuals and those looking to kickstart their own businesses.
The Short-Term Enterprise Allowance (STEA) is there to help people who’ve lost their jobs and want to dive into entrepreneurship. You can get this support for up to nine months, with weekly payments reaching up to €244 while you work on your new venture.
If you’re interested in applying, you need to be receiving or eligible for Jobseeker’s Benefit. Plus, before you jump into self-employment, you’ll need a thumbs-up from your Employment Personal Adviser.
Keep in mind that seasonal or part-time gigs don’t count for this allowance. If your self-employment wraps up or you find a job, you need to let the department know right away.
Now, if you find yourself unemployed after your STEA runs out, you won’t automatically qualify for Jobseeker’s Benefit again. But don’t worry, you can still apply for Jobseeker’s Allowance, which is based on your means.
And here’s a bonus: you can keep any extra benefits you had while on Jobseeker’s, like a medical card or school clothing allowance, as long as you meet the conditions.
On top of that, there’s financial help available for setting up your business through the Enterprise Support Grant (ESG). But to get this, you need to be approved for either the Back to Work Enterprise Allowance or the STEA.
Your business plan will need to show why you need the financial support. The ESG is paid based on your STEA duration, with a max of €1,000 for nine months and €625 for six months.
To apply for the STEA, just fill out the PDF form STEA 1 and send it to your local Intreo Centre or Social Welfare Branch Office. The Case Officer will review your proposal and might chat with you about it.
Just remember, don’t start your self-employment until you get the green light from the Department of Social Protection. Once you’re approved, you’ll need to register as self-employed with the Revenue Commissioners.
So, if you’re thinking about starting a business, make sure you check out these supports. It could really help you get off the ground!
