Young entrepreneurs in South Africa are invited to apply for the NYDA Youth Micro Enterprise Relief Fund 2020.
The outbreak of COVID-19 has impacted a lot of enterprises globally and locally. Youth-owned enterprises have not been spared from this. A number of interventions have been announced by government and the private sector to help SMME mitigate the impact of COVID-19.
It is therefore appropriate that NYDA should also provide a response for youth-owned enterprises. The NYDA is going to provide a Relief Fund to youth-owned enterprises for a period of three months.
Eligibility
- The enterprise must be owned by youth between the age of 18 to 35 years.
- The owners must be South African citizens who are residing in South Africa
- The business must be operating within the borders of South Africa
This fund is targeted at youth-owned businesses that meet the following criteria:
- The youth owned enterprise must have been existing and operating for a period of six (6) months prior to the lockdown. Proof of this must be submitted in a form of management accounts (i.e. invoices, orders, etc.)
- The youth owned enterprises must be able to provide financial statement for three (3) months before the lockdown and statements during the lockdown.
- The youth owned enterprise must submit CIPC registration documents except for informal businesses
- The youth owned enterprise must provide proof of banking details that is not older than six (6) months
- Demonstrate how the enterprise has been impacted by COVID-19.
Benefits
The relief fund will cover operational costs only. The relief fund will be capped at a maximum of R10,000.00 per youth owned enterprise and this will be a once-off amount.
How to Apply
Click here to download Application Form
Completed application forms must be submitted via email to the branch or District Office closest to you. Click here to view list of offices.
Application Deadline: 30 May 2020
