NYDA GRANT PROGRAMME
A total of 500 South African youth owned enterprises will benefit from the grant programme starting from R1000 to R100 000, while thousands more youth will access the non-financial business support services. Young people interested in accessing the grant programme will have to commit to participate in the NYDA mentorship and voucher programme for a minimum of 2 years.
The NYDA is moving away from youth enterprise finance in the form of loans and more toward micro-finance grant provisions. The grant provides both financial and non-financial support to youth entrepreneurs. Grants start from R1 000 to a maximum of R100 000 and support includes mentorship programmes, a voucher programme, market linkages, entrepreneurship development programme, youth co-operative development programme, and other business support services required.
How to access NYDA funding
NYDA grants are available to individuals or co-operatives that meet the following criteria:
- Applicants must be youth (18 to 35 years old) with the necessary skills and experience or show the potential of skills for the business and industry in which they wish to operate
- Applicants must be South African citizens with ID documents and operate their business within South Africa
- The applicant must need the grant to start or grow their business i.e. no other source of capital
- Applicants must be involved in the operation and management of the business on a day to day basis and be prepared to work in it full-time
- The business may be formal or informal and categorised as a micro-enterprise, e.g. street vendor
- The enterprise must show, or have potential to be commercially viable and sustainable
- Applicants should be sole traders or in the case of groups have a minimum of five people.
Grants will not be given to businesses that require less than R1 000 or more than R100 000, that fall within illegal or ill-reputable activities like gambling, drugs, arms, sex trade. Businesses rejected for grants also include those where tobacco or alcohol are the primary income generator, where the business operates as an investment trust, venture capital, seed capital, or where the applicant requires NYDA to issue grants to a third party.
Grants may be used for working capital, asset finance and stock purchase.
Contact details for NYDA funding
For more information on funding available visit www.nyda.gov.za or call the call centre on 0800 52 52 52.
Apply @ http://www.nyda.gov.za/grantprogramme/Pages/default.aspx
