DSBD Youth Challenge Fund (YCF) : Small Business Development
Organisation : Department of Small Business Development
Facility Name : The Youth Challenge Fund (YCF)
Applicable For : Youth between the age of 18 to 35 years
Country : South Africa
Website : http://www.dsbd.gov.za/programme/youth-challenge-fund
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What is DSBD Youth Challenge Fund (YCF)?
The DSBD Youth Challenge Fund (YCF) is a youth start-up support programme intended to stimulate the establishment and growth of youth-owned businesses, promote digital skills, grow the economy and foster job creation.
Related / Similar Scheme : DSBD Township & Rural Entrepreneurship Programme
Eligibility Criteria of DSBD Youth Challenge Fund (YCF)
In line with National Youth Policy, the DSBD Youth Challenge Fund (YCF) will be providing support to youth start-up businesses/enterprises that meet the following criteria:
** Are between the age of 18 to 35 years.
** Registered with CIPC and be prepared to register with SARS & UIF.
** 100% South African owned.
** Are adequately involved in the day-to-day operation and management of the business with at least one or more of the members being full-time employees of the company, especially the majority shareholder or essential personnel/applicant.
** Prepared to participate in Business Development Support and mentorship (pre and post).
** Commercially viable, sustainable and feasible business idea.
How To Apply For DSBD Youth Challenge Fund (YCF)?
Download the DSBD Youth Challenge Fund (YCF) application form and submit it, with all required documentation to YCF [at] sefa.org.za.
Download Application Form : https://www.southafricain.com/uploads/pdf2022/24923-Form.pdf
Exclusions of DSBD Youth Challenge Fund (YCF)
The following transactions will NOT be considered for DSBD Youth Challenge Fund (YCF):
** Funding towards a debt owed by the applicant with another lending institution.
** Activities that have already been funded by other government departments or parastatals.
** Government and SOE officials are excluded.
** Fall within the gambling, pyramid sales schemes, loan shark and operating illegal activities etc., as guided by credit policy and grant policies.
** Have a record of fraud and corruption.
** Where the owner/applicant is an un-rehabilitated insolvent.
Funding queries can be directed to YCF Hotline on 012 748 9600 or email: info [at] dsbd.gov.za/helpline [at] sefa.org.za
** Upon receipt of the applications, they will be reviewed and completed applications subjected to due diligence exercises by sefa for consideration.
** Follow-ups will be made with small enterprises whose funding applications are incomplete to submit the outstanding information.
** Small enterprises that require non-financial support are referred to Seda for further handling.
Programme Aims and Objectives:
The Youth Challenge Fund (YCF) was developed as a key intervention in response to:
** The growing importance of investing in the country’s youth as a precondition for accelerated inclusive growth and sustainable development.
** Prioritised support of youth owned enterprises as a response to the challenge of youth unemployment in the country.
** Responding to the negative impact of the COVID-19 crisis and the reduction of the creation of businesses, challenging their survival, and limiting their growth.
** The primary objective of the programme is to provide support to promising young entrepreneurs intending to scale-up and growing their businesses.
** The intervention is intended to increase capacity to access economic opportunities and enhance their competitiveness by supporting access to finance for youth-owned start-ups and enterprises improving their overall survival rate.
** The programme aims to address the significant funding gap in the market for start-up, youth-owned enterprises as existing instruments available do not adequately address their needs, resulting in high failure rates of youth start-up.
** Support youth start-ups to promote technology and innovation enabling these businesses to acquire digital skills.
** Supporting entrepreneurs with any required adjustments to their business model, improving the viability and competitiveness of registered youth enterprises scale up.