Unemployment Benefits

Dave3000

Hi.  I`m new to this forum and website and I`m hoping someone can give me some information.  I`m currently employed and have thought about starting a side business, but I have a concern.  I live in Michigan where unemployment rates are pretty high and I`ve been downsized twice.  The last time it took me about a year and a half to find another job, and the only thing that really kept me going was receiving unemployment benefits.  I`ve been employed for three years now, but at a company with a very high turn-over rate.  I`d love to start something on the side but I`m really concerned that if I do and it brought in a bit of money but nowhere near enough to support me I`d be in trouble if I lost my day job.  I guess my question is how would a small side business affect unemployement benefits if I lost my job?  Does it depend on how much the side business brings in, or would any side business make you ineligible for unemployement benefits.  I know this sounds a bit pessimistic but after two downsizings I`m a little gun-shy about leaving myself vulnerable.  Sorry for the long post but any advice would be much appreciated.  Thanks. 

PiperTax

Hi Dave. This is Michigan`s Unemployment Insurance Agency`s "contact us" page.  I`d say that`s likely your best bet.

Dave3000

Thanks for the info.  I gave them a call.  They told me that any profits from a side business would affect the amount of unemployment benefits received but would not necessarily eliminate them.  The example they gave: if someone had a side business that generated $100 a week, and they lost their main source of income, the side business would cut $50 from their weekly unemployment check.  In other words, you wouldn`t be left high and dry, which was my concern.  By the way, this is for the state of Michigan - I don`t know what the rules are for other states.