Short Term Enterprise Allowance (STEA); Explained

Are you thinking about starting a new business on Ireland soil, then you must know about Short-Term Enterprise Allowance. STEA is one of the many financial allowances offered by the country for those who have lost their jobs. If you are jobless right now but you are very much interested in starting your own business, then this is one of the best available kinds of business support to help you to get your dream business started.

This article will walk you through the details of STEA- Short Term Enterprise Allowance, its eligibility criteria, how to apply, duration, etc.

What is the Short-Term Enterprise Allowance?

In simple terms, the Short-Term Enterprise Allowance or STEA is a type of allowance that provides assistance and support to those people who lost their job and is willing to start a business in Ireland.

Eligibility criteria for Short-Term Enterprise Allowance?

In order to qualify for STEA, you must be getting Jobseeker’s Benefit or Jobseeker’s Benefit Self-Employed. At the same time, if you are someone who works part-time but still gets JB or JBSE, then you will not qualify for Short-Term Enterprise Allowance. Also, your business plan has to be approved in advance by the Case Officer based in an Intreo Centre or Social Welfare Branch Office. This has to be obtained as a written recommendation. If you are doing seasonal or temporary or part-time self-employment, then you will not fall under the STEA eligibility criteria,

How much is the STEA?

This allowance is paid at the same rate as your Jobseeker’s Benefit. Also, note that the side income that you earn from your self-employment will not upset your payment on the Short Term Enterprise Allowance.

Does my eligibility for the Short-Term Enterprise Allowance affect if I have received a grant previously?

No. It won’t. Any employment grants you received from a Local Enterprise Office or a local development company will not affect your eligibility to avail Short Term Enterprise Allowance.

How can I apply for Short-Term Enterprise Allowance?

No. It won’t. Any employment grants you received from a Local Enterprise Office or a local development company won’t affect your eligibility for Short-Term Enterprise Allowance.

For more details and to check your eligibility contact on of the best accountants in Dublin. CONTACT TASC ACCOUNTANTS NOW.