To be eligible for NEIS you must;
- be at least 18 years of age at the time of commencing in NEIS assistance.
- be at least 18 years old when you begin receiving NEIS (New Enterprise Incentive Scheme) training.
- are not prohibited by law from working in Australia
- are available to participate in NEIS Training (if relevant) and work Full-Time in your proposed NEIS Business
- not be an undischarged bankrupt.
- are not an overseas visitor on a working holiday visa or an overseas student studying in Australia, and
- not have received NEIS (New Enterprise Incentive Scheme) Assistance in the previous one year.
Who has been assisted?
Since 1993, over 40,000 unemployed people have been assisted to set up their own small business through NEIS.
The types of business to be approved
For NEIS Eligibility, a business must:
- be new and never have operated commercially
- not currently operating on a commercial basis
- independent, capable of withstanding public scrutiny, and lawful
- assessed as commercially viable
- not based on the purchase or takeover of an existing business
- not competing directly with existing businesses, unless it can be demonstrated that there is an unsatisfied demand for the product or service, or the product or service is to be provided in a new way, and
- established, located and operated solely within Australia.
To watch the NEIS Eligibility video for further explanation click here