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 statements 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
- 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
- The application period is from 20 April up to 30 May 2020
HOW DO I REGISTER / APPLY?
Complete the application form
Completed application forms must be submitted via email to the branch or District Office closest to you.
SUPPORTING DOCUMENTATION REQUIRED
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