If you’ve lost your job and are finding that it is taking too long to find a new one, you could apply for unemployment benefits from the federal government. However, if you are someone that has always dreamed of starting and running your own business, you may want to consider applying for self employment assistance. The self employment assistance program (SEAP) allows you the opportunity for early re-employment. Instead of receiving the unemployment funds from the federal government, you would receive similar funds from your state to help you while you’re establishing your business.

Think this is a good idea? Here are some reasons why you should apply for self employment assistance:

Opportunity to create a job that interests you

Before entering unemployment status, you might have been working a job you didn’t enjoy to pay the bills. Applying for self employment assistance can be the perfect chance for you to begin running a business that you are passionate about. Not to mention you will get government assistance to start up your dream business, instead of having to completely fund it on your own.

Flexible income opportunity

In order to be eligible for self employment assistance, you must also be eligible for standard unemployment insurance, and your state must indicate that you are likely to exhaust the funds. Under the SEAP, you will receive a weekly allowance in the same amount that you would get from unemployment, plus an opportunity to earn even more money in your newly established business.

Entrepreneurial training and support

A common roadblock that often stops people from pursuing entrepreneurship is lack of knowledge on how to do so or even where to start. The self employment assistance program requires entrepreneurial training that will prepare you for starting and running your business. In addition, the SEAP also provides business counseling and technical assistance, along with mandatory activities related to becoming self employed.

Provide employment opportunities for others

As someone who understands the hardships of being unemployed, you may be able to provide assistance to yourself as well as to others. Not only will starting your new business provide you with a means to earn money, it can also be an avenue for you to help others by providing job opportunities to the people you hire.

Self employment assistance is unique and useful because it can help you achieve your goals and doesn’t require you to be actively searching for work while you receive benefits. The SEAP is a voluntary state program, and it is currently only offered in Delaware, Mississippi, New Hampshire, New York, and Oregon. If this is a program that interests you and it is offered in your state, visit this site for more details.

At trades.org we provide you with all the support you need to make the best decisions for you and your family. We want to see you succeed in business and in life. Join now to access all our services including educational materials and support for self-employed trade workers.