Applications must demonstrate a financial need for the grant. A business must be an applicant’s sole work focus or the plan is that it will become so shortly.

Applications need to explain how a grant will transform the business and take it to the next stage.

Individuals aged 18-30 who:

• Are resident in and have a business operating in Wales,
• Have been operating their business for no more than 2 years OR are in the development/ pilot stage, have carried out market research and expect to start trading imminently,
• Are registered as a Sole Trader or a Limited Company. If registered as an Partnership the lead partner needs to be aged 18-30,
• Own 100% of the business or are a majority shareholder,
• Work or plan to work full-time on the business,
• Must have a business bank account or be in the process of setting up a business bank account,
• Applications for ‘business ideas’ will not be considered. Applicants must be able to give evidence of significant steps taken to get your business off the ground.

Funding is available to support a broad range of business costs, providing that applicants can demonstrate how the expenditure will support the growth of their business.

Businesses who have been operating (trading less than two years) and have generated income can apply for grants up £2,000. Start-up businesses (pre-revenue stage, or within a month or two of starting to trade) are only eligible for smaller grant amounts, up to £500.

After 6 months, successful start-up grantees, can reapply for additional funds up to £1,500 if the business has progressed.

A business must be an applicant’s sole work focus or have a clear plan on how the business will be their sole focus in the coming months.

For example, grants could be given for:

• Equipment to increase production or to make production more efficient.
• Equipment that will help diversity revenue where there is proven demand.
• Materials/stock for a new product line.
• Product development.
• Training.
• Building a website and booking system.

Funding cannot be used for:

• Unethical, illegal or immoral business practices or activity (including but not limited to:
  gambling; armaments/weaponry; tobacco/vaping products; pornography; depictions or
  acts of violence against people or animals; discriminatory/abusive behaviour or activity);
• Activities promoting a particular religious or political belief;
• Overseas travel;
• Any activity which is a statutory responsibility of a public body;
• Salaries;
• Rent and utilities;
• Debt repayment;
• Stock for an existing product line;
• Ongoing software subscriptions;
• New computers, phones, and tablets (second-hand only).
• Software/App development – apps/software should be ready to launch or already launched at the point of applying to SWEF. We will fund a wireframe, but not app development;
• Equipment or products relating to invasive beauty treatments – Botox, aesthetics, semi-permanent make-up, no facial tattoos, dermal fillers
• SWEF are trying to support UK businesses and grant funding towards goods and services provided within the UK is preferable
• If grant item is greater than £2k, then the SWEF grant must make up 25% or more of the cost

The fund will re-open on Monday 19th May at 10am.