Deadline: 30 May 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 National Youth Democracy Agency (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. 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
- The relief fund will cover operational costs only
Funding Information
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.
Eligibility Criteria
The applicant must provide evidence of the following:
- The enterprise is owned by youth between the age of 18 to 35 years
- The owners are South African citizens
- They are residing in South Africa
- The business operates within the borders of South Africa
For more information, visit http://www.nyda.gov.za/Latest-News/NYDA-Youth-Micro-Enterprise-Relief-Fund