Youth Micro Enterprise 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. 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 NYDA also provide a response for
youth-owned enterprises. The NYDA provided a Relief Fund
to youth-owned enterprises for a period of three months. This fund was 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 covered operational costs only
- The relief fund was capped at a
maximum of R10,000.00 per youth owned enterprise and this was a
once-off amount
- The application period was from 20
April up to 30 May 2020. Applications are officially closed. No new applications will be accepted!
- Frequently Asked Questions