A program aimed at helping the unemployed start their own businesses is being expanded, the governor”™s office has announced.
Under New York’s Self-Employment Assistance Program (SEAP), unemployed New Yorkers interested in launching their own businesses are eligible to receive unemployment insurance benefits and entrepreneurial training while they work full time to start their own businesses.
The program has been expanded to assist people on long-term unemployment. Previously, a person was only eligible to participate in SEAP during the first 26 weeks of receiving unemployment benefits. Eligibility has now been extended for those that have passed the 26-week mark and are receiving Emergency Unemployment Compensation (EUC).
To enroll in the program, participants must have received at least 13 weeks of regular unemployment benefits or have 13 weeks of EUC remaining. Participants also must develop a business strategy, attend 20 hours of entrepreneurial training, meet with a business counselor at least twice and work full-time on starting their businesses.
In 2012, 586 unemployment insurance claimants participated in the SEAP, of which an estimated 363 started their own businesses.
