BOI YES-P for Young Nigerian Entrepreneurs 2023 Application Form – The Youth Entrepreneurship Support (YES) Programme is BOI’s endeavor to address the troubling situation of youth unemployment in Nigeria by developing and sponsoring young people’s business ideas.
The YES program aims to provide young people with the necessary skills and knowledge to become self-employed by creating and managing their own enterprises.
The programme comprises of the following components:
- 8 weeks of extensive online Entrepreneurship and Business Management training which can test participants’ understanding and track their progress.
- 5 days of in-class Entrepreneurship and Business Management training covering the following five (5) modules:
- The business idea (value proposition and competition analysis)
- Business model (how will the business make money)
- Sales and marketing
- Running a successful business (ethics, compliance, operations, etc.)
- Financial planning
- Financing of the businesses by BOI under its SME Cluster initiative.
Benefits of Youth Entrepreneurship Support Program (YES-P)
- Debenture over the assets of the company or specific charge over the equipment (present and future).
- Deposit of original NYSC certificate and higher educational certificate (Ordinary National Diploma, Higher National Diploma or University Degree) with BOI. This will be subject to the certificate being certified by Background Check International (BCI).
- Acceptable alternatives to Degree/HND certificates: Final Statement of Results, Success Letter, Testimonial or other verifiable evidence of course completion.
- Two (2) external guarantors acceptable to BOI who must belong to any of the following categories:
- Senior Civil Servant (Level 7 and above).
- Bankers (not below the level of Banking Officer), and must have been confirmed by current employer.
- Professionals i.e. Medical Doctors, Lawyers, Accountants, Engineers, etc.
- Senior Staff of reputable quoted Companies, International Oil Companies, Telecommunications Companies (GSM providers) etc.
- Elected public servants/administrators.
- Reputable entrepreneurs with ongoing entities and registered business names.
The guarantees must be supported by a Notarized Statement of Net worth acceptable to BOI.
Note: For established borrowers requesting an expansion, security requirement, Deposit of original NYSC certificate, higher educational certificate, or any alternative could be waived.
Youth Entrepreneurship Support Program (YES-P) Qualification Requirements
The choice of projects to be eligible for the scheme includes the following:
- Projects in any of the 40 identified SME product clusters.
- Projects with unique and innovative products/ideas.
- Value-adding projects that fall within the scope of Small Enterprises excluding trading activities.
- Projects whose promoters have participated in the capacity building aspect of the YES-Programme.
- Project ideas developed by the National Youth Service Corps members and recommended by the NYSC Directorate.
How to Apply Visit the BOI website.
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