The National Youth Development Agency (NYDA) plays a leading role in assisting many young South Africans to be successful entrepreneurs.
It was established to address the challenges faced by the nation’s youth. Previously, the youth organisation provided loans to young entrepreneurs but changed in recent years to provide micro-finance grants for survivalist youth entrepreneurs. It also provides co-operative grants.
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:
- 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-to-day 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.
For more information on services offered by the NYDA call 0800 52 52 52