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We reproduce below information about SME funding available from the National Youth Development Agency (www.nyda.gov.za).
Enterprise Finance aims to promote entrepreneurship among young people, so it provides funding to youth aged 18-35 years old to help them start a new business or grow an existing one. To achieve this Enterprise Finance provides finance ranging from R100 000 to R5 000 000 to expand, buy into or buy out existing businesses or start new businesses which allow significant economic benefits to youth. Finance is provided directly and through partners.
To be eligible for funding you will need to fulfill the following criteria (requirements):
Youth (35 and younger) must hold greater than 26% of the shares in the company;
Must be a previously disadvantaged South African youth
The youth must be operationally involved in the business;
Must demonstrate commitment to the venture;
The venture must be economically viable.
The following types of ventures are excluded from funding: Gambling, Tobacco & Property development and illegal practices.
We are willing and able to help our clients put together business plans required before they can access any funding from the NYDA. Please contact us for assistance.