This is announcing the Youth Micro Enterprise Relief Fund for South African Youth owned business impacted by the COVID-19
The outbreak of COVID-19 has impacted a lot of enterprises globally and locally.
Youth-owned enterprises have not been spared from this.
A number of interventions have been announced by government and the private sector to help SMME mitigate the impact of COVID-19.
It is therefore appropriate that the NYDA should also provide a response for youth-owned enterprises.
Eligibility Criteria Youth Micro Enterprise Relief Fund
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 statement 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
Business Ownership Criteria
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
How to Apply for The Youth Micro Enterprise Relief Fund
If you are a South African Youth and your business meets the above stated criteria, apply for this funding by Downloading the Application Form.
See also Frequently Asked Questionsto gain more insight about the funding.
Good luck as you apply!
Was this information useful? Please consider sharing it (using the social share buttons below) to your friends and networks especially those resident and doing business in South Africa.
Don’t forget to sign up to our newsletter so you don’t miss out on similar opportunities such as this.
Entrepreneurs’ Square will continue to update you on all entrepreneurship development and funding opportunities.