How to apply for funding as a young person

If you walk through the workshops of the Limpopo Jewellery Business Incubator (LJBI), you will hear the delicate ring of hammers against metal, the low whirr of polishing machines, and the quiet hum of ambition. Here, talent lives in its rawest form, ideas made tangible, beauty crafted bead by bead, design by design. These aren’t just businesses. They are blueprints of resilience.

But there is a story behind each piece: one of tenacity and frustration. Because too often, these small, medium and micro enterprises (SMMEs) operate like artists locked in a room full of doors they cannot open. The locks? Capital. Infrastructure. Market access. Recognition. In my previous column, I addressed how to start a business as a young person.

Today’s question is:  How can you, as a young person, access funding?

At LJBI, we work closely with youth≠owned enterprises, and rather have observed the same pattern repeat itself. SMMEs are ready to move but get stuck in one place due to funding barriers.

Before you begin your journey for apply for funding consider the following: 

1. Register your business: When seeking funding opportunities, the first step is to register your company with the Companies and Intellectual Property Commission (CIPC). If you are unsure how to register, log on to www.cipc.co.za for a guide.
2. Visit the Small Enterprise Development Finance Agency (SEDFA): If you have already started operating your enterprise but need advice on a business, plan or registering your business SEDFA will be able to assist. The agency will also guide you on the funding institutions that align well with your business.
3. Get your paperwork in order: Before approaching funding institutions, ensure that your paperwork is in order. Your company registration documents, identity document, business plan, and proof of bank account are just some of the documents you’ll need when submitting your application.
4. Be compliant: Your business needs to be compliant with institutions such as the South African Revenue Service (SARS), Companies and Intellectual Property Commission, and the Unemployment Insurance Fund (UIF), especially if you already have employees.

As a young person, As a young entrepreneur, you can approach the following organisations for funding:

• National Youth Development Agency (NYDA) – Offers grants, business mentorship, and development support tailored to youth entrepreneurs – www.nyda.gov.za
• SEDFA – Provides training, finance, and tools to help small businesses grow www.sedfa.org.za
• Industrial Development Corporation (IDC) – Funds scalable, youth-owned businesses in sectors like manufacturing, agro-processing, and energy – www.idc.co.za
• The Jobs Fund (National Treasury) – Supports innovative job-creating youth projects through matched funding – www.jobsfund.org.za
• Technology Innovation Agency (TIA) – Backs science, technology, and innovation-based start-ups with seed funding and commercialisation support – www.tia.org.za

At LJBI, we are doing our part. We help businesses become compliant, understand markets, develop products, and prepare for funding.

Funding opens doors.

We’ve seen what happens when those doors open: young designers dress celebrities, women-run cooperatives become exporters, and side hustles turn into registered, tax-compliant employers.

If you are an unemployed young person, consider the route of entrepreneurship—because the future of our economy is not being built in glass towers. It’s being handcrafted in shared studios, spare bedrooms, and backyard workshops across South Africa. 

Namedi Mathuthe works in the Business Development Unit at the SEFDA Limpopo Jewellery Business Incubator and is currently pursuing an LLB degree at the University of South Africa.