These projects facilitated 429 job opportunities in sectors such as textiles, toilet paper manufacturing, steel window frames manufacturing, agro-processing, cement brick manufacturing, motion picture manufacturing and electric motor fabrication.The IDC’s entrepreneurial development was complemented by internal initiatives and those implemented with external stakeholders to increase the employability of South Africa’s youth.A total of 500 South African youth owned enterprises can benefit from the grant programme, per year.
In April 2014, the IDC was a signatory to the Youth Employment Accord with other stakeholders.
The aim is to improve skills development among young people.
The plight of South Africa’s youth, specifically the excessive levels of youth unemployment, is relentlessly in the spotlight.
Dealing with it is a national imperative and one of government’s priorities.
This will determine the amount a business can receive, should the grant application be successful.
The NYDA grantd the following amounts for the listed business types Threshold 1: Survivalist – R1000 – R10 000 Threshold 2: Start Up – R10 001 – R50 000 Threshold 3: Growth – R50 001 – R100 000 How do I apply?The state-owned IDC, a development financial institution mandated with capacity development and job creation in industry as key outcomes, has a direct interest in addressing unemployment.The IDC’s approach to this challenge is anchored by three major pillars: education, work experience and entrepreneurial development.Key achievements entailed capacity building through strategic planning and team-building sessions, Learner Representative Council (LRC) training and infrastructure refurbishing at some schools.The youth Employment Accord also identified the Green economy as a potential sector for youth development opportunities.The IDC reinforced its Accord commitment with a R1 billion contribution from the R10 billion Gro-E Scheme, created to support youth-owned businesses.A tripartite agreement with the Ny DA and sefa during the past year also facilitates access for youth-owned businesses to IDC and sefa finance to establish or expand their businesses and Ny DA grants to develop bankable business plans.Upon approval of grant, if you are employed full time, you may be required to resign from employment and provide grant officer with proof of resignation What amount does my business qualify for?There are three thresholds in which the NYDA classifies a business.Do you have what it takes to run your own small business?Are you an individual or a group of young people wanting to start or grow your existing small business? The objective of the Grant Programme is to provide young entrepreneurs an opportunity to access both the financial and non-financial business development support services.