Arguably entrepreneurship is a whole course one needs to be 100% ready before jumping on board to start up a business. From not getting funds, to being disappointed in people all comes at an entrepreneur during the early stages of a business. Getting funds to start up a business idea is always a burden and as a result, has killed enough businesses which would have been top-notch businesses if gotten the financial support.
Today if a young person with a business idea but how to finance it is now the problem then worry your head not as National Youth Development Agency (NYDA) through their NYDA grant programme can help an entrepreneur secure funds to start up their business.
The NYDA Grant programme since its commencement has solely helped shape and grow about 1136 youth-owned enterprises.
What is NYDA
The National Youth Development Agency as widely known as NYDA is a South African agency whose main motive is to help the country’s youth. Its purpose is to help youth play a part in the economic growth of the economy through youth-owned enterprises. In 2008, an act of parliament was passed for the introduction of NYDA.
NYDA Grant Programme
This programme was introduced to help young entrepreneurs whose business plan needs financial support.
Who Can Join NYDA Grant Programme
1. Between ages 18-35
2. Must be a South African Citizen
3. Must be based in South Africa
4. Must have a potential and prospective skill or business idea
How Much Does NYDA Grant Give
NYDA Grant programme has types of grants it offers for entrepreneurs. The funding has been divided into four thresholds depending on the stage and how far the business has gotten to.
Threshold 1 – Idea generation and survivalist
With this threshold, an applicant is entitled to a grant amount ranging from R1,000 – R10,000
Threshold 2 – Start-ups PTY and cooperatives
With this threshold, an entrepreneur is expected to receive a grant amount of R10,001 – R50,000
Threshold 3 – Growth stage PTY and cooperatives
With the growth stage threshold, a beneficiary is entitled to a sum of R50,001 – R100,000
Threshold 4 – Expansion stage PTY and cooperatives
This is the last and final threshold stage a beneficiary can earn. An amount ranging from R100,001 – R200,000
NB: With projects related to agriculture and technology, a sum of R250,000 can be granted.
How To Apply For NYDA Grant Programme
Before an applicant can start receiving NYDA Grant for their business growth, an applicant must visit follow these procedures first;
1. Apply 3 months before an applicant turns 35
2. All necessary documentation must be submitted
3. A certificate proof of attending business management courses
4. 10 minutes Pitching of business to NYDA officials via telephone or in-person
5. Assessment conducted by NYDA officials on the business
Note all application processes take a period of 30 days as it goes through a review and approval committee.
Accessing of NYDA Grant Programme
For one to access the NYDA grant programme must first register on the NYDA Portal. Another alternative is for an applicant to visit the nearest branch of NYDA.
Contact Details of NYDA
NYDA offices can be found in all nine provinces in South Africa. All an applicant must do is to find the exact location their offices are in each province and walk-in. Below are their contact details..
NYDA Head Office
54 Maxwell Drive, Woodmead North Office Park,
- Switchboard: 087 158 6345 / 5738
- Customer Service: 0871584742
- E-Mail: email@example.com