A new entrepreneurial programme aimed at empowering the youth kicks off.
The Y-AGE launch took place on Friday 21 October at the Alexander Stadium, where TV personality and MC Bonang Matheba was announced as Brand Ambassador for Y-AGE.
In her speech, the MEC of Gauteng, Qedani Mahlangu, said that SA is rich with raw materials that can be used to empower the economy.
Y-AGE is an initiative by the Gauteng Department of Economic Development, though the Gauteng Enterprise Propeller (GEP), that aims to encourage young entrepreneurs by providing skills development, training and mentorship. The programme will support eligible businesses and business plans with funding and advice.
How do you register?
You can register online at www.y-age.co.za or SMS “Y-AGE” to 34747 (Each SMS costs R1,50).
Who will be considered for the programme?
• Any person with business idea and who is between 18 and 35.
• Any person with a business that doesn’t have support regarding funding.
• Any person that had a business, but failed to sustain it.
Does it cost anything?
All successful candidates will be required to pay a R500 admin fee to make ensure they commit to the programme.
What does orientation entail?
You will sign a contract and receive starter material with further information. You will need a bank account to take part.
What about training?
Training is structured in two ways for the successful applicants:
1. Newbie, which is a 12-month contract.
2. Existing business, which is a 6-months contract.
Do you need a business plan?
Yes – your business plan will be evaluated by professionals to make sure that it’s a sustainable business model.
Do you get funding for your business?
Businesses must require start up capital of no less that R100 000 and no more than R1 million, of which 20% will be offered as a grant and the remaining 80% will be a loan.
What happens next?
Operation will start and you will have to hire personnel, as part of the Y-AGE initiative. Your business will be monitored and evaluated on a regular basis and as part of the programme, a mentorship in the field that you are operation your business will be allocated.