How To Start Your Own Business With The NDIS in Melbourne?

How To Start Your Own Business With The NDIS in Melbourne?

July 28, 2022 0 By admin

Motivation, ambition, and perseverance can guarantee success no matter how many obstacles and hurdles life throws. If you are an NDIS participant and dream of having your own business, then rest assured that NDIS funds have covered you! One of the most creative and beneficial ways NDIS participants can use their funds is by starting a business of their own. It is important to note that the NDIS funds startups to make participants achieve independence, self-management, and social confidence.

Steps for opening a business:

Some steps must be followed by NDIS participants who decide to allocate their funds towards opening their own business:

1.   Goal Setting

Do appropriate goal setting in your NDIS plan. Consider your passions and the unique skills you possess and state within your plan if you require any support to develop and polish those skills. Determine if you want to use those skills to start a business. Then outline your individual and the collective goals you wish to meet as a business and how much support you will require in achieving those goals.

     2. Determine a way to manage your NDIS plan

There are three ways for the management of an NDIS plan:

  1. NDIA-Managed
  2. Plan-Managed
  3. Self-Managed.

You must decide which plan best suits your needs and the type of business you are planning to start. When making this decision, it is important to remember that NDIA-Managed plans only allow you to use NDIS-registered providers, which means that you are restricted from availing any services offered by non-registered providers. In comparison, Plan-Managed and Self-Managed NDIS plans offer greater flexibility with regard to the spending of funds.

3. Get to know which supports can be used for your business.

There are many NDIS plan supports that you can use as per your business’ situations and conditions. For example, you can use your Core Budget funds to purchase assistive technology or hire support staff for business admirative tasks. You also have the opportunity to avail yourself of the School Leaver Employment Support (SLES), which assists participants in transitioning from school to self-employment.

Types of funding offered by the NDIS:

1.   Employment Support:

Employment support aims to build the NDIS participants’ capacity to handle business matters. For example, support providers can help you draft a business plan, how the business will operate, how many people are required to run the business smoothly or manage any obstacles within business operations. In the case where a business requires hiring more people, support providers can also help with recruitment and hiring by screening applications and conducting interviews.

     2. Supports in Employment:

This is a relatively new kind of funding for participants who require additional and continuous support in running the business. It can include facilities such as on-the-job training, assistance with daily tasks, personal care, and support with managing any complex task within the business. For example, if you cannot operate certain machinery, support staff can provide you with physical assistance.

To benefit from any of these funds, you must fulfil the ‘Reasonable and Necessary Criteria’ put forth by the NDIS. To ensure that you fulfil the criteria, feel free to study it in detail and ask for any help from the NDIS in Melbourne. 

What else can the NDIS offer?

Apart from simply providing funds to NDIS participants for starting businesses, NDIS also offers some other services that can help participants establish a strong base for their startup.

  1. The NDIS can help you recognise your core strengths and fields of interest.
  2. They can assist you in drafting a business plan.
  3. They can provide legal advice to understand how to handle legal matters.
  4. They can assist you in delivering your products or services.
  5. They can help you adopt behaviours that are business appropriate.
  6. They can teach you how to make or manufacture the product you are willing to sell.

For additional information regarding how to start a business using NDIS funds, you can reach out to the support staff at Personalised Support Services. Call or fill in the form and they’ll call you back.