The New Enterprise Allowance Phase 2 (NEA2) is a programme part-funded by the European Social Fund. It’s aimed at supporting eligible claimants who wish to start or develop their own business
We are a Delivery Partner in the Business Compass Start Up 2 project. This is a business start-up project being delivered across Tees Valley to assist potential entrepreneurs to become enterprise-ready and ultimately self-employed. This is part-funded by the European Regional Development Fund
The Best Way To Start A Business In Teesside
Business Start-Up Support
If you have an idea for a business or are interested in learning more about becoming self-employed, give us a call on 01642 061062. We’ll make an appointment for you to meet one of our friendly business advisor who will explain all of the support available to you.
Frequently Asked Questions
What can we help you with?
Our experienced team of business advisors have had their own businesses before and can support you to make informed decisions about your business.
Do I need a business plan?
Yes, a business plan is a written document that describes your business. It covers objectives, strategies, sales, marketing and financial forecasts. A business plan helps you to clarify your business idea, spot potential problems, set out your goals, measure your progress. You’ll need a business plan if you want to secure an investment or a loan from a bank. If you don’t have one we can help you write your business plan, just get in touch on 01642 061 062.
Can I start a business and be employed in another business?
Yes. Put simply, it is tempting to set up as a sole trader while remaining in full-time employment, but it is wise to find out where you stand legally first. You will need to refer to your contract of employment with your current employer. You may find you are subject to a Restrictive Covenant which would prevent you from setting up your business while continuing to work for your current employer.
Can I have more than one business?
Yes. but there various rules that must be followed; click the link for more detailed information on owning more than one business.
What if I know nothing about business?
That’s ok, you can request a free consultation with Enterprise Made Simple to see how self-employment can benefit you, what needs to be considered to run a business and how you can grow your business.
What’s the difference between a sole trader/Limited Company?
A standard size project typically takes about a month to complete. We handle all of the work for you, and communicate everything along the way to ensure you’re happy with your outcome!
Sole trader – Sole traders must register with HM Revenue and Customs (HMRC) and follow certain rules on running their business (We can help you set up and start also explain the rules you need to obey).
If you’re a sole trader, you run your own business as an individual and are self-employed. You can take on staff – being a sole trader means you’re responsible for the business, not that you have to work alone.
Limited Company – To set up a private limited company you need to register with Companies House. You need a company name – there are rules on what it can and can’t include, an address for the company, at least one director, at least one shareholder, the agreement of all initial shareholders (‘subscribers’) to create the company – known as a ‘memorandum of association’.
Details of the company’s shares and the rights attached to them – known as a ‘statement of capital’, written rules about how the company is run – known as ‘articles of association’. Once the company is registered you’ll get a ‘Certificate of Incorporation’. This confirms the company legally exists and shows the company number and date of formation.