We are building on the success of the new enterprise allowance. From April 2017, eligibility will be extended to include universal credit claimants who are already self-employed.
There are 40 new businesses in Banbury currently supported by the new enterprise allowance, with about 100 more going through the developmental stage. Can the Minister reassure us that the programme is not just there to set up new businesses, but to enable them to grow?
Absolutely. The 40 new businesses in Banbury are a great example of what the NEA can do. In phase 2, we are introducing additional features to continue to promote sustained success in self-employment, including extending the mentoring period and ensuring there is a pre-workshop to outline the responsibilities and realities of being self-employed.