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Attention: this is very old content, revived mostly for historical interest.
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| HOME \ OUR SERVICES \ FINANCIAL SERVICES \ SELF EMPLOYMENT BENEFITS PROGRAMS |
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Self Employment Community Enterprise Investment Fund |
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Self Employment Benefits Programs
HOW DOES IT WORK? Individuals who receive EI normally lose their benefits when they start their own business. The SEB program continues these benefits for a maximum period of one year while you are establishing your business. WHO CAN APPLY? To qualify for SEB, you must meet the following criteria: You must be on EI (or have been in the past three years). You must be unemployed. You must live in the designated 16/37 area. Your business must provide you with full-time employment (35 hours per week minimum). You have completed a business plan and financial forecasts for your business (16/37 staff can help you with this step). Get Ready.... STEP 1 - How do I qualify? Check with a counsellor at the Employment Centre to see if you are eligible to apply for this program. If you are, they will give you a referral form. Remember, you must already have a viable business idea to start with, but you cannot already be operating a business. STEP 2 - Make an appointment. Bring the referral form to the 16/37 office (located above the HRDC Employment Centre in Terrace), and make an appointment to see the SEB counsellor. Get Set.... STEP 3 - The Business Plan. Don't Panic! Our counsellors will help you to get your ideas and plans out of your head and down on paper into a proper business plan. A business plan is the first step to getting your business going. It is a very necessary step and cannot be skipped. Your counsellor will help you with financial forecasting for your business to prove if it is viable and can support you. Remember--- we will guide you and assist you, but we will not write your business plan for you. This is YOUR business and it has to be YOUR PLAN. STEP 4 - Getting Accepted to SEB. Once your counsellor is confident that your business plan and financial forecasts prove your business can succeed, your plan goes to the SEB Board for approval. Acceptance depends on a number of criteria, including: Is the business needed/wanted in the community? Does the business displace other businesses? Can the business support you? Is the business a full-time venture? Do you need the SEB program to get your business started? Note: Acceptance to the SEB program is not guaranteed. STEP 5 - Sign on the dotted line. Once your business plan has been accepted to the program, you will be notified of your acceptance. Just a few forms to fill out at the HRDC office, then you can officially start your business!! GO!!!! STEP
6 - Presenting the newest business... Congratulations! You are
now an ENTREPRENEUR!!! Remember, during those critical first months of starting your own
business, your 16/37 counsellor is available if you need any business guidance,
counselling or assistance. |
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WHAT IS IT? The
Self-Employment Benefits Program (SEB) provides financial assistance for people on
Employment Insurance (EI) (or who were on EI in the last 3 years), and who want to start
their own business. It is a one-time only program...you can only use it once in your life.