The qualifying criteria includes:
• Are youth 18-35 years
• Youth with skills, experience or; with the potential skill, appropriate for the enterprise that they conduct or intend to conduct.
• Are South African citizens
• Are resident in South Africa;
• Members of entities should comprise 100% south African youth citizen
• Operate business within the borders of South Africa.• Are adequately 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.
• Have completed life skills training and business management training programmes or related programmes as per recommendation from client(s) assessment.• Have a business mentor and/or a coach approved by NYDA or must be allocated a business mentor by NYDA post application approval.• Have relevant qualifications or business and/or technical experience including proven entrepreneurship business experience where applicable.
• Require the grant for a viable business idea.• Previous NYDA Micro Loan Clients who accessed loans up to a maximum of R50,000 with paid up accounts will be eligible to access grant funding.• Operate either informally or formally; generally recognized as micro enterprises (e.g. street traders, vendors, emerging enterprises);• Have a profit motive and are commercially viable and sustainable;
• Individual entity must have a bank account.• For cooperatives, they must have or be willing to form a group of minimum 5 persons.• Upon approval of grant, if applicant is employed full time, he/she may be required to resign from employment and provide grant officer with proof of resignation;• Where the entity constitutes more than one member, this will apply to the member with highest shareholding and is operationally involved in the business.
Levels of grants
There are three levels of grants, each focusing on different types of youth enterprises including:
1. Formal and informal businesses grants are issued to individuals who are at the promising and start-up phase of their development or development stage.
2. Individuals benefit from the grant programme when they come together and form co-operatives with a minimum of 5 persons, to meet their common economic and social needs.
3. The grants programme facilitates a process of community development through identifying projects that are funded through NYDA funds and/or funds sourced from partners.