The Department of Small Business Development (DSBD) is seeking applications for the Youth Challenge Fund (YCF), a youth start-up support programme intended to stimulate the establishment and growth of youth-owned businesses, promote digital skills, grow the economy and foster job creation.
In line with National Youth Policy, the YCF will be providing support to youth start-up businesses/enterprises who meet the following criteria:
- Are between the age of 18 to 35 years.
- Registered with CIPC and be prepared to register with SARS & UIF.
- 100% South African owned.
- Are adequately involved in the day-to-day operation and management of the business with at least one or more of the members being full-time employees of the company, especially the majority shareholder or essential personnel/applicant.
- Prepared to participate in Business Development Support and mentorship (pre and post).
- Commercially viable, sustainable and feasible business idea.
The following transactions will NOT be considered:
- Funding towards a debt owed by the applicant with another lending institution.
- Activities that have already been funded by other government departments or parastatals.
- Government and SOE officials are excluded.
- Fall within the gambling, pyramid sales scheme, loan shark and operates illegal activities etc., as guided by credit policy and grant policies.
- Have a record of fraud and corruption.
- Where the owner/applicant is an un-rehabilitated insolvent.
- Funding queries can be directed to YCF Hotline on 012 748 9600 or email address via given website.
- Upon receipt of the applications, they will be reviewed and completed applications subjected to due diligence exercises by sefa for consideration.
- Follow-ups will be made with small enterprises whose funding applications are incomplete to submit the outstanding information.
- Small enterprises that require non-financial support are referred to Seda for further handling.
For more information, visit http://www.dsbd.gov.za/programme/youth-challenge-fund