SWEF - enterprise and business grants

SWEF has been created to support young entrepreneurs (aged 18-30) to invest in their business venture and/or support them to take their business to the next level.

The priority for this fund is to support those with less advantage in their early life, who face barriers to investing in their business and who may not be able to generate funding from other sources.

This fund is now closed.

It will reopen later this year – please sign up to our Grants Newsletter for updates: Grants newsletter – Community Foundation Wales

 

SWEF – enterprise and business grants

Application process:

There is a two-stage application process for SWEF.

  1. An expression of interest (EOI) which asks for basic details about yourself and your business. This is submitted through the Community Foundation Wales Grants Hub, and is used to assess your eligibility.
  2. Once we have received and assessed your eligibility, we will send you a link to apply for a SWEF grant directly though the SWEF grants portal.

 

Available grants

SWEF grants are available in two options: Start-up and Business, depending on the stage at which your business is at.

  • A business must be an applicant’s sole work focus or the plan is that it will become so shortly.
  • Applicants will need to explain how a grant will transform the business and take it to the next stage.
  • Applicants must demonstrate a financial need for the grant and inability to access funds easily elsewhere (savings, income etc)

The SWEF fund is aimed at individuals aged 18-30 who:

  • Are resident in and have a business operating in Wales,
  • Have been operating their business for no more than three years OR are in the development/ pilot stage, have carried out market research, can demonstrate visibility for the business, and expect to start trading imminently,
  • Are registered as a Sole Trader or a Limited Company. If registered as a 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,
  • Must be able to give evidence of significant steps taken to get your business off the ground – ‘business ideas’ will not be considered
  • Do not have savings and/or access to funds through family, friends or well-paid other employment

Eligibility and details: what the fund can be used for

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 three years) and are generating income of at least £500/month can apply for grants up £2,000. Start-up businesses (pre-revenue stage, or within a month or two of starting to trade and with a monthly revenue of less than £500) are only eligible for smaller grant amounts, up to £500.

After six months, successful start-up grantees, will be offered the opportunity to reapply for additional funds up to £2000 if the business has progressed sufficiently.

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.

 

The full eligibility details and list of what the fund can be used for can be read on SWEF’s website:

SWEF Eligibility Criteria | Who Can Apply for a Grant

Please make sure you read this carefully and in full before making an expression of interest.