Want To Get Off J.S.A And Start My Own Company.

IT Loser

Hi, those of you who post here regularly will be familiar with my background- I am on JSA having waited a little over 4 months for my claim to be approved, which it eventually was.

I dont really want to stay on JSA much longer- I have come across a decent and sustainable business idea recently and I want to get started.

It involves recycling and the recycling industry, and can be run by me, on my own, and provide a decent income. Basically I will be collecting scrap wire from the telecoms industry and recycling it using machinery I have invested in.

I wanted to know that if I incorporate a small company, register it for tax and VAT, and pay myself a wage from it, PRSI etc {in other words, a proper company, not a sham} is there any Back To Work Allowance that I could avail of while I am getting started up. It will be a one-man affair, cottage industry type thing, working out of a shed, but it has the potential to be bigger.

I have bought the tools and am organising transport so I should be ready to go by January 1st at the very latest.

If it doesnt work out in the long run {1 year from now or so, I will give it that long at least} what are my options? Can I claim benefit off my PRSI payments? Will I be disbarred from claiming on grounds of having been self-employed?

Thanks.:)

BizTalker

IT Loser wrote: »

Hi, those of you who post here regularly will be familiar with my background- I am on JSA having waited a little over 4 months for my claim to be approved, which it eventually was.

I dont really want to stay on JSA much longer- I have come across a decent and sustainable business idea recently and I want to get started.

It involves recycling and the recycling industry, and can be run by me, on my own, and provide a decent income. Basically I will be collecting scrap wire from the telecoms industry and recycling it using machinery I have invested in.

I wanted to know that if I incorporate a small company, register it for tax and VAT, and pay myself a wage from it, PRSI etc {in other words, a proper company, not a sham} is there any Back To Work Allowance that I could avail of while I am getting started up. It will be a one-man affair, cottage industry type thing, working out of a shed, but it has the potential to be bigger.

I have bought the tools and am organising transport so I should be ready to go by January 1st at the very latest.

If it doesnt work out in the long run {1 year from now or so, I will give it that long at least} what are my options? Can I claim benefit off my PRSI payments? Will I be disbarred from claiming on grounds of having been self-employed?

Thanks.:)

There is a programme called Back to Work Enterprise allowance. From May 2009 the qualifying period requirement was reduced from 2yrs to 12 months. If you you have entitlement to JSA you might keep a percentage of it and undertake self employment/start up a company. For more info look at the Welfare Web: Here

IT Loser

BizTalker wrote: »

There is a programme called Back to Work Enterprise allowance. From May 2009 the qualifying period requirement was reduced from 2yrs to 12 months. If you you have entitlement to JSA you might keep a percentage of it and undertake self employment/start up a company. For more info look at the Welfare Web: Here

Damn. That means I would have to be claiming Dole until May 2010, which kind of defeats the purpose!!

Anyways thanks for your link, I will visit that and see what I can make of it.:)

BizTalker

IT Loser wrote: »

Damn. That means I would have to be claiming Dole until May 2010, which kind of defeats the purpose!!

Anyways thanks for your link, I will visit that and see what I can make of it.:)

You don't sound too enthusiastic about your business idea, do you?
Well as far as I know there could be few good insentives for you as a start up. Go and talk to you local Eterprize board. I you think about you dole as a permenent shelter you might lose of your entrepreneurial spirit!

gleep

OP, have you been employed for a long time over the past 6 years? If so you should look into the Seed Capital Scheme, it basically allows for people to reclaim all the income tax they have paid over the previous 6 years when setting up a company. There are rules and regulations, but nothing too tricky.
If not, there is also a grant available (up to €15,000) to help with the cost of hiring someone(can be yourself!)
There are also other grants/loans available, not just the JSA related ones, which are feckin ridiculous, but you'll have to go and see your local county enterprise board as they administer the funds, which are all coming from the EU.

Here is a link to The Enterprise board main site you should be able to find your way from here.

Let me know if you need any more help, I've researched this a bit for work.

Good luck

IT Loser

gleep wrote: »

OP, have you been employed for a long time over the past 6 years? If so you should look into the Seed Capital Scheme, it basically allows for people to reclaim all the income tax they have paid over the previous 6 years when setting up a company. There are rules and regulations, but nothing too tricky.
If not, there is also a grant available (up to €15,000) to help with the cost of hiring someone(can be yourself!)
There are also other grants/loans available, not just the JSA related ones, which are feckin ridiculous, but you'll have to go and see your local county enterprise board as they administer the funds, which are all coming from the EU.

Here is a link to The Enterprise board main site you should be able to find your way from here.

Let me know if you need any more help, I've researched this a bit for work.

Good luck

I have been employed on-and-off over the last 6 years, for sure......I would say I was in employment for at least 2/3rds of that period.

I actually dont need any start up money for this idea, it requires basic tools and equipment, which I have, a command of the Tax law, which I have and a whole pile of physical effort and application on top.

I just want to be guaranteed of some sort of basic income while I get started.

Thanks!