Young entrepreneurs to benefit from funding through grant |11 July 2014

To further promote youth entrepreneurship in the country, the Seychelles National Youth Council (SNYC), Small Business Financing Agency

(SBFA) and the Youth Department signed a memorandum of understanding (MoU) on Wednesday June 25,  2014.

Through this MoU, youths aged between 18 to 30 years who aspire to start a business will be funded through a grant.

Over the past years, young entrepreneurs were primarily funded through the Fond Insertion des Jeunes (FIJ) project that Confejes had been administering here in Seychelles.

FIJ recently changed its name to Programme de Promotion de L’entreprenariat de Jeunes (PPEJ). 

Due to the increasing number of youths following the training and submitting credible projects, the government felt that such a grant will further encourage the development of young entrepreneurs. The government will provide a total amount of R1 million per year to sustain the grant.

Funds are therefore being made available to those willing to follow the mandatory training and are prepared to embrace the challenge of setting up a small business.