Leaving work

[Jim]

I am currently employed full time. Wife not working. I hate my job and want
to go self employed. My friend has told me about a scheme at the local Job
Centre were they help unemployed people setting up a business. Basically you
get your dole money for 6 months while you are first running your business.
You don't get to access any of the money you make until the end of the 6
months "trial" If the trail is a success, you sign off and hey you are self
employed. If not you just go back to signing on.

I have been told that I could get on these scheme straight away, as soon as
signing on, as I have health problems, It sounds ideal as it would give me a
guaranteed income while I start up my business. I cant go self employed
while carrying on a full time job as I work shifts and just don't have time.

What would happen if I left my job voluntary and went to sign on? How much
of my dole money would be stopped and for how long? ( I have one child and
my wife doesn't work)

 

[sPoNiX]

Basically you
get your dole money for 6 months while you are first running your business.
You don't get to access any of the money you make until the end of the 6
months "trial" If the trail is a success, you sign off and hey you are self
employed. If not you just go back to signing on.

So you don't get access to any of the profits for 6 months, only dole
money? How are you supposed to launch & run a business like that?

sPoNiX

 

[Jim]

So you don't get access to any of the profits for 6 months, only dole
money? How are you supposed to launch & run a business like that?

You don't get access to the profits but you can withdraw money for day to
day running costs. You have a joint business account with the company the JC
uses for the scheme (Inbiz I think its called) and can only withdraw funds
from the business account for approved transactions (like stock, petrol etc)