National Youth Development Agency (NYDA)
These grants programmes are provided to young entrepreneurs as an opportunity to access financial and non-financial business development support. This programme is directed at youth entrepreneurs who are showing potential but are not fully developed yet.
Young people who would like to access the grants programmes will have to commit to participating in the NYDA mentorship and voucher programme for a minimum of 2 years. The youth business funding ranges from R1000 to R100 000.
Requirements:
- The applicant must have attained the age of eighteen (18) years at the time of application
- Require business, start-up or growth funding
- Are youth (18-35 years) with necessary skills, experience or; with the potential skill appropriate for the enterprise that they conduct or intend to conduct
- Are South African citizens and are resident within the borders of South Africa
- Are involved in the day-to-day operation and management of the business
- Require grants from NYDA of not less than R1, 000.00 and not more than R100, 000.00
- Require grants from NYDA of not less than R1,000 and not more than R1, 00, 000 within the following thresholds:
- Threshold 1 – Survivalist business – R1 000 – R10 000
- Threshold 2 – Start Up – R10 001 – R50 000
- Threshold 3 – Growth – R50 001 – R100 000.
- 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
- Members of entities should comprise 100% South African youth citizen
- Business are operating within the borders of South Africa
- Individual entity must have bank account and or a young person must be assisted to open an account
- For cooperatives they must have or be willing to form a group of minimum 5 persons.
Be aware: If you receive approval of your grants and you are a full time employee, you might be required to resign and provide your grant officer with your proof of resignation
Find more information here.