When it comes to government funding, a lot of successful entrepreneurs got started because of it. Grants like the National Empowerment Fund (NEF) and the National Youth Development Agency (NYDA) have supported the start of many businesses. The most important focus is on helping the youth get their businesses up and going and that’s where the NYDA comes in.
The NYDA is a South African agency which addresses the challenges faced by the youth. Its job is to manage programmes that involve young people in the economy and society. It initiates, plans, organises, assesses, and oversees these programmes.
To gain a real understanding of the work done by the NYDA, it’s important that we look at some of the small businesses the organisation has helped with funding and business support.
In this article, we look at some of the National Youth Development Agency’s business funding success stories and look at how you can apply for funding for your business.
Moringa Lifestyle RSA
Moringa Lifestyle is a South African company that promotes moringa’s health benefits for better well-being. Moringa is a plant that is high in proteins, vitamins and minerals and is great for fighting malnutrition.
Tshepo Ntemana from Hammanskral, started the company after facing his own health problems, including asthma. In 2018, he bought a small plot of land to grow moringa. He turns the moringa into supplements like powder, pills, and tea.
Tshepo took a business management course through NYDA, where he learned how to successfully manage his business.
Currently, Tshepo is applying for funding through the NYDA. With this money, he wants to set up pop-up store(s) which will help sell his products to more people.
Thandikhwezi Training and Supplies
Founded by Khwezi Luthuli, Thandikhwezi Training and Supplies focuses on printing and computer repairs. Khwezi received funding from the NYDA which helped him afford a range of supplies for his business. These include a wide format printer, all-in-one computer, rotary trimmer, heavy-duty stapler, binder and paper roll.
Since then, Khwezi has been able to hire two employees and continue to grow his business.
To access Khwezi’s printing and computer repair services, please contact him at (+27)82 482 1863 or e-mail multi.wise4@gmail.com.
Dodo’s Kitchen
Dodo’s Kitchen was founded in November 2018 and focuses on fast food and catering. Its founder Mikhove Tshivase holds a master’s degree in economics. He found out about the NYDA from social media and approached the Port Elizabeth branch to find out more.
After going through the Business Management Training, he applied for funding through the NYDA. He was awarded a funding grant of R 48 000 and used the money to purchase a mobile food trailer for his business.
Mikhove currently employs four young people on a full-time basis and intends to grow Dodo’s Kitchen into a franchise.
Ambesha Africa
Ambesha Africa is a Johannesburg-based outdoor furniture manufacturing company. Trudy Mkansi founded the company after completing her postgraduate diploma in Business Management.
Trudy established her business locations in Midrand. After that, she received a R 113 995 grant from the NYDA to purchase business materials and equipment. The company has grown exponentially and currently employs four permanent staff members and four part-time employees.
TEMANGCANE (PTY) LTD UYI Medical Spa
Founded by Makhosazana Maseko, TEMANGCANE (PTY) LTD UYI Medical Spa is another company that is growing successfully after receiving funding from the National Youth Development Agency.
Makhosazana is a qualified beautician and received R 42 231,69 through the NYDA Mbombela Branch. Using this money, she purchased inventory for her business. The NYDA also assisted her with a financial management voucher to help her manage her business finances.
The company currently operates in lodges Mzinti, Mpumalanga. It offers spa and beauty services such as massages, manicures, pedicures and eyebrow shaping to its clients.
These are just a few of the many beneficiaries of the NYDA. Using the agency’s services, these business owners have been able to establish strong businesses and are now on the road to growth. They are also contributing to the economy through job creation.
If you have a business you want to start, and need funding from the NYDA, you need to know what the requirements are.
NYDA Funding Requirements
The NYDA provides different types of services. These include formal and informal business grants, vouchers, training programmes, mentorship, and market linkages amongst others.To qualify for NYDA funding grants, you need to meet the following requirements:
Your business must be operating for over one year.
- You must be between the ages of 18-35.
- Your business must be commercially viable.
- You must attend a NYDA business management course.
- Within your application, you must conduct a 10-minute business pitch (in-person or telephonically).
- You must submit all valid documents (ID, financial statements, business plan etc).
- These are just the basic requirements you need to meet to apply for a grant through the NYDA.
Note: The NYDA will conduct a due diligence report before you are given a grant.
If your business meets any of these requirements, you must apply to the NYDA today! Remember, the organisation provides more than just funding. It has programmes which are designed to help youth entrepreneurs to start businesses that are scalable and successful.
For more information on National Youth Development Agency funding, take a look at one of our guides. If you need expert help on running your business, visit the advice page and book an appointment with one of our experts.
