National Youth Development Agency (NYDA)
This government grant is moving away from grants for youth and shifting towards mentorship and development programmes. Grants are however, still available for youth entrepreneurs.
Types of NYDA Funding
NYDA awards individual grants to formal and informal businesses that are in the start-up or development phase of their business.
These government grants get awarded to co-operatives, which is an autonomous association of people united to meet common economic and social goals through a jointly owned and democratically controlled enterprise.
Additionally, another option is community development and facilitation projects.
Do You Qualify for NYDA funding?
- You need to be eighteen years old at the time of application
- Need the grant for business start-up or growth
- You need to be between the ages of 18-35 years with necessary skills, experience or with the potential skill appropriate for the enterprise
- South African citizens and resident within the borders of South Africa
- Are involved in the day-to-day operation and management of the business
- Require grant from NYDA of not less than R1 000 and not more than R100 000.
Upon approval of the grant, if you are employed full time, you could be required to resign from employment and provide grant officer with proof of resignation. This is a requirement so that you can focus an appropriate amount of time on your venture.
How to apply for NYDA funding
NYDA government grants are available to entrepreneurs or co-operatives that meet the following criteria:
- Applicants must be a youth (18 to 35 years old). They must have 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 involve themselves in the operation and management of the business on a day to day basis and must work on a full-time basis.
- The business may be formal or informal and categorised as a micro-enterprise.
- 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.
Contact details for NYDA funding
For more information on the NYDA government grant visit www.nyda.gov.za or contact the call centre on 0800 52 52 52.