WHAT IS THE YOUTH MICRO ENTEPRISE RELIEF FUND?

The 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 LOAN?

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?

The 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?

The enterprise must submit CIPC registration documents except for informal businesses.

DO I NEED TO SUBMIT A BANK ACCOUNT?

The enterprise must provide proof of banking details that is not older than six (6) months  

ARE THERE SUPPORTING DOCUMENTS/EVIDENCE REQUIRED?

• The enterprise must demonstrate how it has been impacted by COVID-19 by writing a motivation
• The 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.
• The business operates within the borders of South Africa

WHAT IS THE MAXIMUM AMOUNT THAT THE ENTERPRISE CAN APPLY FOR?

The relief fund will be capped at a maximum of R10,000.00 per enterprise and this will be a once-off.

WHAT CAN THE AMOUNT RECEIVED BE USED FOR?

The relief fund will cover operational costs only.

WHEN IS THE APPLICATION PERIOD?

• The application period is from 20 April up to 30 May 2020.

HOW CAN I GET AN APPLICATION FORM?

An application form can be downloaded from our website: www.nyda.gov.za

HOW DO I SUBMIT A COMPLETED APPLICATION FORM AND EVIDENCE?

Log onto 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