A young per­son’s guide to NYDA fund­ing

Vuk'uzenzele - - General - More Mat­shediso

THE YOUTH or­gan­i­sa­tion plays a lead­ing role in de­vel­op­ing youth in busi­ness.

With the youth un­em­ploy­ment rate reach­ing 27.2 per­cent in the sec­ond quar­ter of 2018, many young South Africans are ven­tur­ing into the world of en­trepreneur­ship with the as­sis­tance of the Na­tional Youth Devel­op­ment Agency (NYDA).

The NYDA was es­tab­lished to ad­dress the chal­lenges faced by the na­tion’s youth. Pre­vi­ously, the or­gan­i­sa­tion pro­vided loans to young en­treprenuers but changed in re­cent years to pro­vide mi­cro-fi­nance grants for sur­vival­ist youth en­trepreneurs. They also pro­vide co-op­er­a­tive grants.

The ob­jec­tive of the grant pro­gramme is to pro­vide en­trepreneurs an op­por­tu­nity to ac­cess both the fi­nan­cial and non-fi­nan­cial busi­ness devel­op­ment sup­port to es­tab­lish their sur­vival­ist busi­nesses.

How much grant can I re­ceive from the NYDA? The grant fi­nance starts from R1 000 to a max­i­mum of R200 000 for any in­di­vid­ual or youth co-op­er­a­tive, but for agri­cul­ture and tech­nol­ogy-re­lated projects, the max­i­mum amount is R250 000.

Young peo­ple whose busi­ness ideas qual­ify for the Grant Pro­gramme, de­pend­ing on their in­di­vid­ual needs, will also re­ceive some of the NYDA’s non-fi­nan­cial sup­port ser­vices that in­clude: • Men­tor­ship

• Busi­ness Con­sul­tancy

Ser­vices

• Mar­ket Link­ages • Busi­ness Man­age­ment

Train­ing Pro­gramme • Youth Co-op­er­a­tive Devel­op­ment Pro­gramme

What are the cri­te­ria for ap­pli­ca­tion?

In or­der to meet the cri­te­ria, ap­pli­cants must be be­tween the 18 and 35 years old. They must also have skills, ex­pe­ri­ence or po­ten­tial skills, ap­pro­pri­ate for the en­ter­prise that they con­duct or in­tend to con­duct.

Most im­por­tantly, ap­pli­cants must be South African cit­i­zens who live in the coun­try and op­er­ate a busi­ness within the borders of coun­try.

Ap­pli­cants must also be in­volved in the day-to­day op­er­a­tion and man­age­ment of the busi­ness with at least one or more of the mem­bers be­ing a full­time em­ployee of the busi­ness, es­pe­cially the main ap­pli­cant.

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