2. Who Qualifies For NYDA Funding?
The following are the grant programmes qualifying criteria:
- You need to be at least 18 years old and no older than 35 years old.
- You’ll need the grant for business start-up or growth.
- You will need to have the necessary skills, experience or with the potential skills needed for your enterprise.
- You have to be a South African citizen and a resident within the borders of the country.
- You have to run the day-to-day operations and be management of the business.
- The grant that you require can’t be less than R1 000 and more than R100 000.
Here are the following thresholds that your business will need to fit into in order to qualify for the grant:
Threshold 1 | Survivalist Business | R1 000 – R10 000 |
Threshold 2 | Start-up | R10 001 – R50 000 |
Threshold 3 | Growth | R50 001 – R100 000 |
- Your business will need to operate either informally or formally and should be a micro enterprise, such as street traders, vendors, emerging enterprises.
- Your business will need to strive towards making a profit and should be commercially viable and sustainable.
- The members of your business need to be 100% South African youth citizens.
- Your business operates within the borders of South Africa.
- Your business will need a bank account or the Agency will assist you to open one.
- If your business is a cooperative, the group must be a minimum of five people.