The qualifying criteria includes:
· The applicant must have attained the age of eighteen (18) years at the time of application;
· Require the grant for business start-up or growth;
· Are youth (18-35 years) with necessary skills, experience or; with the potential skill appropriate for the enterprise that they conduct or intend to conduct;
· Are South African citizens and are resident within the borders of South Africa;
· Are involved in the day-to-day operation and management of the business;
· Require grant from NYDA of not less than R1, 000.00 and not more than R100, 000.00;
· Require grant from NYDA of not less than R1,000 and not more than R1, 00, 000 within the following thresholds:
Threshold 1
Survivalist business
R1,000 - R10,000
Threshold 2
Start Up
R10,001 - R50,000
Threshold 3
R50,001 - R100,000
· Operate either informally or formally; generally recognised as micro enterprises (e.g. street traders, vendors, emerging enterprises);
· Have a profit motive and are commercially viable and sustainable;
· Members of entities should comprise 100% South African youth citizen;
· Business are operating within the borders of South Africa;
· Individual entity must have bank account and or a young person must be assisted to open an account; and
· 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;