Q: My daughter left a reasonably well paid job to set up her own educational software company. She is living on fast dwindling savings. Is she entitled to any benefits?
Jan 28 2009
Answered by: Clive Lewis Ask a question
I suggest she goes online to the DirectGov website and complete the benefits adviser questionnaire.
It may be that she is not entitled to benefits or that they will be very limited. I think she may need to consider taking on an investor such as a business angel to spread the risk and reward of the project, or attempt to raise funding from friends and family. Hopefully, by this stage in the development of the business she will be able to demonstrate the company’s unique selling points and put together a business plan with the ‘wow factor’ needed to attract an investor.
She can get help to become ‘investment ready’, which is to be able to attract equity investment. Business Link can help her access this service (at little or no cost) or she can go to an adviser to help, but from what you say, there’s no money to pay them. Sometimes they are prepared to help on the basis of a success fee, after the finance has been raised.
Comments