KZN YOUTH EMPOWERMENT FUND – KwaZulu-Natal Premier Sihle Zikalala and MEC for Economic Development, Tourism and Environmental Affairs, Hon. Ravi Pillay call interested youth entrepreneurs in the Province of KwaZulu-Natal in South Africa to apply tor the roll out of the Youth Fund.
The fund is aimed at assisting deserving young people aged 18-35, to kick-start and grow their business ventures.
APPLICATIONS ARE NOW OPEN FOR DESERVING; QUALIFYING AND INTERESTED YOUTH FROM 01 July 2021 TO 30 JULY 2021.
Young people are advised to ensure that they have the following documents when making an application:
- Business proposal (R50 000 io R500 000) business plan (R500 000 to R2 Mill);
- Company Registration Documents;
- Proof of Address and valid Tax Clearance Documentation.
The Youth of KwaZulu-Natal is drawn to the following minimum qualifying criteria to ensure consideration and possible approval of their applications:
- Age Cohort (18-35)
- No change of business ownership in the last twelve months from the date of the Fund application.
- Maximum 10% operational costs and 90% capital or asset costs.
- Business ownership (80 %Youth owned).
- Young women owned businesses will have an added advantage.
- Adhere to priority sectors as spelt out the application form (Applications with Innovation and sound Franchise deals are encouraged).
- Local content is required.
- Township and Rural operations are encouraged.
Note: Failure to comply with some of the minimum criteria points will lead to automatic disqualification from being considered for funding while the lack of others will result in weak proposals that may lead to disapproval.
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