Business Plans Are Good, Are They Really?
March 17, 2009 by Tyrone
I have mentioned in the last couple of months that I’ve been part of the NEIS program and have been attending the small business management course provided by BEC. During the course I’ve put together a very detailed business plan for my business idea, which is also part of this website that I created. Here’s a video presentation of my business plan:
Also for anyone interested in writing a business plan here is a template provided by BEC: Business Plan Template
Tyrone Shum
Business Planner
New Enterprise Incentive Scheme (NEIS)
Over the last few weeks I’ve been preparing myself to start the New Enterprise Incentive Scheme (NEIS), where I attended my first class today at 9.30am in Sydney CBD. I was really excited and anxious at the same time because I was wondering if my idea would become a viable business by the end of the course.
How I Found Out About NEIS?
Back in December 2008 I was looking for other opportunities to increase my weekly cash flow and to do a course to learn more about marketing and growing a business. My initial approach was to do a search on Google and to read blogs to gain ideas. Funnily enough I stumbled across a business blog where it mentioned the NEIS program and described about his personal experience attending this course many years ago. It got me interested and I started to make a few phone calls to find out how to apply for the programme.
What Is NEIS?
You might be wondering why I was interested in this particular programme? NEIS is an Australian government funded programme (only available to residents of Australia), and is aimed at assisting people to explore the opportunities of starting their own business instead of going to the workforce. The additional benefits of the programme are:
- a short 4-5 week course on small business management and planning equipping you will the necessary business skills to start your new business
- 12 month support financially
- mentoring assistance to you to guide you through your new business
The government has provided an excellent opportunity to people like myself wanting to start a new business, but don’t have enough capital to start. Also, I knew there was a cost to attending business courses at Tafe and having a personal mentor, which made it even more appealing for me to apply for this programme.
For more detailed information about NEIS and to apply go to: http://www.neis.com.au/
Requirements
Before applying for NEIS you must also be on a Centrelink benefit. In my circumstance, I was unemployed and able to apply for the New Start Allowance through Centrelink.
How It Works?
The people I met in NEIS within my class, came from all types of backgrounds ranging from senior positions in corporate companies to mechanics. Therefore most people can apply for this programme. Here the stages you have to complete before going onto NEIS:
- As mentioned the requirement is that you must be on a Centrelink benefit.
- Once you begin to receive your benefit / allowance from Centrelink you will need to attend a Jobseeker network which Centrelink will refer you to. They will provide you a Jobseeker number and you have to fill out the relevant forms.
- Submit a fortnightly form to Centrelink to let them know of your job seeking or course attending activities. (In this case you will be attending NEIS for a period of around 12 weeks)
- Apply for NEIS through the closest Business Enterprise Centre (BEC) near you and fill in the required forms.
- Inform Centrelink once you have been accepted in the NEIS Programme
- Attend NEIS short course for 4-5 weeks and then present your business plan to the panel 2-3 weeks later.
- Normally it will take an additional 2 weeks to process your business details to Department of Education, Employment & Workplace Relations (DEEWR).
- Attend a final group meeting to be inducted and assigned a business coach taking an additional week.
As you complete each step you will gain a better understanding of how to run your business and be provided with training and mentoring to help you succeed. After the final group meeting you’ll be out to start your new business.
How Can It Help You?
If you think you are eligible then I would recommend applying for NEIS. Even if you attended the business course it’s worthwhile to gain the knowledge and learn more about running a successful business.
Continue onto NEIS Part 2: What Do They Teach You?
Tyrone Shum
NEIS Supporter
