WHAT IS THE YOUTH
MICRO ENTEPRISE RELIEF FUND?
outbreak of COVID-19 has impacted a lot of enterprises globally and
locally. Youth-owned enterprises have not been spared from this. Several interventions
have been announced by government and the private sector to help SMME mitigate
the impact of COVID-19. It is therefore appropriate that NYDA should also
provide a response for youth-owned enterprises in the form of Youth Micro
Enterprise Relief Fund
WHO IS THE RELIEF FUND TARGETED AT?
The Youth Micro Enterprise Relief Fund is
aimed at youth owned enterprises.
IS THE YOUTH MICRO ENTEPRISE RELIEF FUND A
No, this is
not a loan. It is a once off grant. This means you do not have to pay it back.
HOW DO I QUALIFY?
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,
bank statements not older than 3 months etc.)
DO I HAVE TO PROVIDE BANK STATEMENTS?
enterprises must be able to provide bank statements for three (3) months before
the lockdown and statements during the lockdown
SHOULD MY BUSINESS BE REGISTERED?
must submit CIPC registration documents except for informal businesses.
DO I NEED TO SUBMIT A BANK ACCOUNT?
must provide proof of banking details that is not older than six (6) months
ARE THERE SUPPORTING DOCUMENTS/EVIDENCE
enterprise must demonstrate how it has been impacted by COVID-19 by writing a
enterprise is owned by youth between the age of 18 to 35 years.
- The owner(s)
of the enterprise is/are South African citizens and residing in the country.
business operates within the borders of South Africa
WHAT IS THE MAXIMUM AMOUNT THAT THE ENTERPRISE
CAN APPLY FOR?
fund will be capped at a maximum of R10,000.00 per enterprise and this will be
WHAT CAN THE AMOUNT RECEIVED BE USED FOR?
fund will cover operational costs only.
WHEN IS THE APPLICATION PERIOD?
application period is from 20 April up to 30 May 2020.
HOW CAN I GET AN APPLICATION FORM?
application form can be downloaded from our website: www.nyda.gov.za
HOW DO I SUBMIT A COMPLETED APPLICATION FORM
our website: www.nyda.gov.za for a list of
our branches and district offices. Your
application must be submitted to a branch or district office closest to you