Starting a business when unemployed
Business start-up challenges
Starting a business when unemployed presents many challenges but it is definitely achievable. There are some common sense steps that you can take, whatever the reason behind setting up your own business, which will increase your confidence in and likelihood of success.
It will be important for you to determine how you will secure the finance needed to get your business off the ground. Many unemployed do not have money themselves to start a business and will need to raise this from other sources - see choose the right finance when starting up and business financing options - an overview.
Careful financial planning is essential. It will also be important to understand how your unemployment benefits will be affected by starting up a business.
Advice and assistance is available to unemployed people seeking to overcome the barriers to starting a business from your local Jobs & Benefits office. For information on how your current benefits will be affected by you starting a business contact your local Jobs & Benefits office.
For further information see avoid common mistakes when starting a business.