Do you have what it takes to run your own small business? Are you an individual or a group of young people wanting to start or grow your existing small business? Then the NYDA Grant Programme is for you.
The objective of the Grant Programme is to provide young entrepreneurs an opportunity to access both the financial and non-financial business development support services.
A total of 500 South African youth owned enterprises can benefit from the grant programme, per year.
Grants from R1000 and up to R100 000 can be approved depending on your business needs.
Non-financial business support services can also be accessed in the form of vouchers for branding, marketing, website
development and more.
Do I qualify to apply?
If you are interested in applying for the grant programme and are in need of grant of not less than R1000 and NOT MORE than R100 000, you must:
- be eighteen (18) years at the time of application
- be between the ages 18-35 years with necessary skills, experience or; with the potential skill appropriate for the enterprise that they conduct or intend to conduct
- be a South African Citizen and living within the borders of SA
- Your business must also operate within the borders of South Africa
- Are involved in the day-to-day operation and management of the business
- Members of entities should comprise 100% South African youth citizen
- Your business must operate either informally or formally; generally recognised as micro enterprises (e.g. street traders, vendors, emerging enterprises)
- Have a profit motive and are commercially viable and sustainable
- Individual entity must have bank account and or a young person must be assisted to open an account; and
- For cooperatives you must have or be willing to form a group of minimum 5 persons.
Upon approval of grant, if you are employed full time, you may be required to resign from employment and provide grant officer with proof of resignation.
What amount does my business qualify for?
There are three thresholds in which the NYDA classifies a business.
This will determine the amount a business can receive, should the grant application be successful.
How do I apply?
Visit your nearest NYDA full service branch office and bring the following documents:
- Business Plan
- Business Bank Account or Personal Bank Account latest statement (if you haven’t opened a business bank account)
- Proof of Residence
- Certified Copy of the ID
- Quotation from Suppliers, signed and stamped
You DO NOT QUALIFY If your business:
- Falls within the gambling, gaming or sex industries, and/or operates illegal activities;
- Tobacco as a primary income generator
- Alcohol as a primary income generator
- Are investment trusts or venture capital / private equity funds you need funding, co-funding or funding towards a deposit for a loan from another lending establishment
- Contract finance and bridging finance
- Business is owned by NYDA staff members, Board Committee Members or Member of the Accounting Authority
- Require NYDA to issue a guarantee in favour of a third party
- Require seed capital for research and development
How to Apply
Click Here to Read More Terms and Conditions:
For more information contact the NYDA on the toll free number 0800 52 52 52 or Email: [email protected]