Initial assessment
We will check your application and eligibility. If we have any questions we will contact, you via email.
SWEF - enterprise and business grants
SWEF provides business grants for young people aged between 18-30.
We are working in partnership with SWEF to provide business grants of up to £2,000 to young entrepreneurs in Wales that are aged between 18-30.
As part of the programme SWEF provides the opportunity to join a network of peers who are also in the early stage of starting their business to share ideas, experiences and learn.
Who is eligible to apply and what can the grant be used for?
To be eligible to apply, you need to be:
- aged 18 to 30
- living 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
- without easy access to other sources of finance
Grants can be used for:
- equipment that will help achieve increased revenues
- equipment that will help a business increase production where there is a proven demand
materials/stock for a new product line - prototypes (not app development costs)
- website/booking build system build
- training
- product development
The grant cannot be used for:
- salaries
- debt repayment
- rent and utilities
- stock for an existing product line
- ongoing software subscriptions
- new computers, tablets and phones.
NB On a match funded basis, we can consider applications for refurbished technology. However, in order for this to be considered you will need to :
- Explain why the laptop, tablet or phone will transform your business
- Provide a link to the refurbished item with an explanation of why you need this piece of specific technology
We prioritise applications from groups that are often underrepresented in business, including people on low incomes, women, migrants, ethnic minorities, people with disabilities, people with few or no formal qualifications.
Applications for start-up businesses at the pre-revenue stage may only initially be eligible for smaller grant amounts (i.e. up to £500), to help prove the business concept and start revenue generation.
Please read the SWEF criteria before applying - the fund will reopen in October 2024
What happens after I have submitted my application?
Meeting
We may invite you to a meeting where you will be able to tell us more about your business. The meeting will usually take place online with two people, a member of staff from Community Foundation Wales and someone from the SWEF. We aim to make a final decision on your application within six weeks.
Award
If you are awarded a grant you will be asked to accept the terms and conditions of the award and the grant will be paid directly to you by BACS. We can only pay grants into a business bank account that matches the business name in your application, so if you don’t have a business bank account yet you will be asked to set one up. You will receive payment of the grant within 10 working days from the terms and conditions being accepted There is an expectation that the grant should be spent within one month of receipt.
After the award
We will contact you 12 months after you received the grant to find out how your business is progressing. You will also have the opportunity to take part in a business forum with other businesses that have been awarded a grant. The forum offers a space to share, exchange ideas, experiences and learn.