BOSTON — The U.S. Department of Labor today awarded a grant of $49,329 to the state of Vermont to create and promote a Self-Employment Assistance program for individuals who are eligible to receive Emergency Unemployment Compensation. The Vermont SEA program will connect EUC claimants to self-employment and training services through referrals to the Vermont Small Business Development Center.
"The funding announced today will make it easier for unemployed residents in Vermont to realize their dream to start their own business," said Eric Seleznow, acting assistant secretary of labor for employment and training. "Eligible residents will receive financial support while they access the resources, information and training they need to get a business off the ground."
Funding for this initiative is part of a series of innovative reforms to the federal Unemployment Insurance program made possible through the Middle Class Tax Relief and Job Creation Act of 2012. The grant includes $42,328 for development and implementation of the program and $7,001 for promotion and enrollment activities.
Participants in voluntary Self-Employment Assistance programs are provided with financial assistance equal to their Unemployment Insurance benefits while they receive entrepreneurial training and access to resources to help launch their businesses. In order to allow participants to devote full-time attention to creating new businesses that have the potential to create additional jobs, state work search requirements are waived.
For more information about Self-Employment Assistance programs, read the Unemployment Insurance program letter at http://wdr.doleta.gov/directives/corr_doc.cfm?DOCN=3919.