Did you know the NYDA funding programme has helped numerous South African youth become self-sufficient?
It promotes their economic development, employment, and social cohesion.
Act 54 of 2008.
The NYDA logo. Photo: @nydaSource: Facebook
The agency primarily deals with issues affecting South African youth, including lack of capital to start business ventures.
NYDA funding 2022 guide
Do you wish to learn how to apply for NYDA funding in 2022?
Theagency providesfinancial and non-financial support to young entrepreneurs to grow their businesses.
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Non-financial support includes mentorship,businessconsultancy services, market linkages, and business development training.
Read on to learn how it’s possible for you to enter the funding.
You cansubmit your applicationby visiting your nearest NYDA Branch.
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Alternatively, you’re free to apply online using the steps below.
NYDA funding utility forms for 2022 are not available on the porta yet.
Who qualifies for NYDA funding?
The various levels of funding. Photo: briefly.co.zaSource: UGC
If you require the support of NYDA to start a business, you must meet specific criteria.
The grant can be given to individuals, members of cooperatives, or community development facilitation projects.
The NYDA funding requirements are listed below.
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On the other hand, funding for cooperatives should be a minimum of R1,000 but not exceed R250,000.
Individuals or cooperatives who meet one or more of the things below should not apply for funding.
What does NYDA help with?
A group of young people sharing a light moment. Photo: pexels.com, @Sadock KaisiSource: UGC
It helps with capital to start and run viable business ventures.
It also offers non-financial services like market linkages and business development training.
How do I apply for NYDA?
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you might apply for financial aid on the NYDA portal.
Alternatively, you could visit an NYDA branch to submityour software.
What are the 3 NYDA programmes?
A person using their laptop. Photo: pexels.com, @fauxelsSource: UGC
Besides the business funding programme, there are more than three programmes.
Who qualifies for NYDA?
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How does NYDA funding work?
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The funding works by giving qualified youth money to start businesses.
It also provides non-financial business support services to make these ventures successful.
How much can I receive from the NYDA?
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The agency provides funding ranging from R1,000 to R200,000.
Up to R250,000 may be given for technology and agriculture-related ventures.
How can the grant money be used?
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Can I use the grant to purchase a car?
You cannot use the grant to purchase a vehicle.
How long does it take to process the grant?
The agency will check your credit and process the utility within 30 working days.
Once approved, the grant is processed at the Head Office within 30 working days.
You cannot appeal if your system is rejected.
However, you might re-apply for the grant.
Through the NYDA funding programmes, numerous South African youth have started successful businesses.
DISCLAIMER:This article is intended for general informational purposes only and does not address individual circumstances.
Any action you take upon the information presented in this article is strictly at your own risk and responsibility!
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Source: Briefly News
Lynn KandieLynn Kandie is a reporter with 5 years of experience in writing.
Before joining the team in 2018, Lynn wrote for Kenyan media platforms and several other websites.
She graduated from the University of Nairobi in 2019 with honours after pursuing a BSc.
She is currently studying for a Master’s degree in the same field.
Lynn specialises in writing celebrity biographies, listicles and teasers for popular TV shows.
She holds a Diploma in Mass Communication and a Bachelors degree in Nutrition and Dietetics from Kenyatta University.
Cyprine joined Briefly.co.za in mid-2021, covering multiple topics, including finance, entertainment, sports, and lifestyle.
In 2023, she finished the AFP course on Digital Investigation Techniques.
She received the Writer of the Year awards in 2023 and 2024.
In 2024, she completed the Google News Initiative course.
Email: cyprineapindi@gmail.com
