Self Employment Benefits

What is it?

The Self Employment Benefit (SEB) provides business training and financial assistance to approved clients who wish to start their own business.

Who can apply and what are the benefits?

To qualify for the SEB program you MUST meet the following conditions:

• Be eligible for Employment Insurance Benefits and are unemployed
• Priority funding to clients currently on EI
• Be in receipt of EI benefits or have had an active claim during the past three years, or five years for maternity/parental
• Plan to reside and operate your business in the Okanagan-Similkameen area
• Agree to work full-time in your business while receiving SEB funding (minimum of 35 hours per week)
• For active EI claimants to remain eligible for EI while your proposal for the SEB program or training is being considered, you must be able to prove a job search and continue to be available for work.
• The business should not saturate the market. It should appear viable, sustainable and needed in the area.
• No applicant may start their business until they are officially signed onto the SEB Program.

What are the benefits?

• Approved clients signing onto the SEB program that are on a current claim will receive their regular EI benefits for the remaining weeks of their existing claim, then receive a flat rate of $340 per week.
• Other SEB eligible clients will receive the minimum of $340 per week for the duration of their agreement.
• Approved SEB clients may receive UP to 52 WEEKS IN TOTAL of financial support.
• Clients receive business guidance, business plan training and business mentoring.
• Clients will receive initial bookkeeping instruction from CFOS.

What businesses are supported?

• Businesses new to the area, filling a niche or void have a high priority.
• Existing business purchases may be considered, but as a lower priority may receive fewer weeks of support.
• Franchises are a lower priority and may be excluded. Applications will be judged on the level of support, training and control given by the franchise company, and if approved, may receive fewer weeks of support.
• SEB applicants must control 51% of the business for the time they are on the program.
• Home-based, retail and mobile businesses may qualify.

What businesses are not suitable for SEB?

• A business where revenue is primarily from commissions on sales.
• A business that is judged to generate income through multi-level marketing.
• A business that is a subsidiary or financially supported by another company.
• People who act as agents or manufacturing representatives or those that exploit sex, religion or politics.
• Businesses that are seasonal will not be supported unless the business can be developed into, or include other year-round associated ventures.

What is required after approval?

• Clients must work full-time in their venture and give self employment their best effort.
• The SEB Coordinator will visit your business to assure compliance with program guidelines.
• A business bank account with a minimum $500 cash balance and other assets valued to $4,420 is required.
• Monthly business reports are required from ALL SEB clients by the 10th of the following month.
• Clients will work with CFOS, the Province, or assigned mentors for the benefit of the business.

Self Employment Benefit Procedure

1. The first step is to attend a regularly scheduled Self Employment Orientation session. The 2-hour orientation session outlines the Province's SEB Program guidelines, benefits and requirements to apply.

2. Clients interested in self-employment may obtain an application from CFOS and/or request a meeting with one of the SEB staff to apply for and complete a regularly scheduled, one-week Entrepreneurial Assessment Program (EAP). This program provides an overview of self-employment that includes personal evaluation, industry assessments, business requirements, marketing and finance information. It is recommended for all clients. All eligible EI clients are to contact their Case Manager through their EAS Provider, to discuss career options. If self-employment is identified, your Case Manager will issue an Action Plan for the Self Employment Benefit Program.

3. After taking the one-week Entrepreneurial Assessment Program, EI clients wishing to proceed further must arrange an appointment with one of the CFOS Self Employment staff. Initial discussions may include your readiness for self-employment, the business idea, identified opportunities, other options and suggested directions to follow. Clients with ideas that do not meet program guidelines will not be supported by CFOS and will be referred back to their Case Manager.

4. Clients with ventures that appear to be potentially viable, needed in the community, while not saturating the local market, may be directed to prepare an Application Package for the SEB program. CFOS staff will provide all the necessary applications, documentation assistance, as well as a time-line of application deadlines. An Action Plan is required for acceptance in this program.

5. The Start Smart Option: Business Plan Development Program

• All approved applicants will sign a 52 week contract with the Province.
• The first four weeks (1-4) of the contract are spent in the classroom completing formal business training, followed by two weeks (5-6) of supported business plan development.
• Completed Business Plans are due by the last Friday of the sixth week in the contract period. The next four weeks (weeks 7-10) are spent evaluating your submitted plan and preparing it for approval.
• Approved Business Plans will assure clients remain on SEB benefits while they operate their business for the remaining 42 weeks.
• Clients who have submitted Business Plans that are rejected will be removed from the SEB program.

Notes on the SEB Program:

• Completed Application Packages will be forwarded through an assessment and recommendation process established in accordance with the Province and CFOS guidelines. All applicants will be advised of the Committee's final decision.
• Employment Insurance clients applying for the SEB program training must be in contact with and supported by their Case Manager.
• Recommended plans assure the continuance of the SEB program's financial support with full CFOS mentoring support.

Terms:

Province of BC Ministry of Housing & Social Development
CFOS Community Futures Okanagan-Similkameen
SEB Self Employment Benefit

EAS Provider Employment Assistance Services:

WorkZone BC - www.workzonebc.com

Penticton (250) 493-0225
Summerland (250) 404-4256
Oliver (250) 485-0115
Osoyoos (250) 495-3955
Keremeos (250) 499-300
Princeton (250)295-6201

Centre francophone de services a l'emploi (250) 492-8447

Okanagan Training and Development Council
Lower Similkameen Indian Band (250) 499-5528
Penticton Indian Band (250) 770-3210
Osoyoos Indian Band (250) 498-6935

For further information, please contact
Community Futures Okanagan Similkameen at:
Suite 102 - 3115 Skaha Lake Road, Penticton, BC V2A 6G5
Phone: (250) 493-2566 Fax: (250) 493-7966

More Information Contact:

Ray Holm 250-493-2566 ext. 205 ray@cfokanagan.com