SWEF Enterprise Fund - Start-Up Grant
Grant details
| Grant size: | Up to £500 |
| Apply by: | Open all year round |
| Decision in: | Every month |
Who is it for?18–30-year-olds in Somerset, BANES and North Somerset.
What is it for?To help take your pre-revenue stage business forwards.
The SWEF Enterprise Fund Start-Up Grant supports applicants aged 18 - 30 who are just getting started or pre-revenue, with monthly revenue under £500.
Grant Information
- Applications can be for grants up to the value of £500.
- Applications solely for ‘business ideas’ will not be considered. You must be able to give evidence of significant steps taken to get your business off the ground.
- Business visibility is required - e.g social media presence, website, leaflets
- Grants must be spent within one month of receipt of funds.
Who is eligible to apply?
- Applicants need to be between the age of 18-30.
- Applications need to be for UK businesses only.
- Applications must come from a majority shareholder.
- Applicants must demonstrate the financial need for a grant, i.e. they don't have access to other forms of funding such as a bank loan or help from friends and family.
Business Criteria
- Applications can only come from businesses that have (or will have) a business bank account. If you are unable to open a business bank account please contact us to discuss.
- Businesses must be looking to generate revenue within 3 months of application.
- If an applicant is not yet full-time, they will need to prove that they intend to go full time as soon as possible. Applications can only be from sole traders/limited companies/CICs limited by shares that have been trading less than 2 years.
- Applications that clearly explain how a grant will transform a business and take it to the next stage are the most likely to be successful.
How you can use the grant:
- Equipment that will help a business achieve increased revenues. Applications that involve the purchase of second hand items are particularly welcome.
- Materials/stock
- Prototypes and product development
- Website/booking system build
- Training
- Goods and services provided within the UK are preferred
Please note that SWEF does not provide grant funding for the following:
- Salaries
- Debt repayment
- Retrospective purchases
- App development or software development costs. Apps/software should be ready to launch or already launched at the point of applying to SWEF.
- Rent and utilities
- Businesses that involve invasive beauty treatments such as botox, aesthetics, semi permanent makeup, facial tattoos, dermal fillers.
- New computers, phones, tablets
NB on a match funded basis, SWEF will consider applications for refurbished technology. However, in order to be successful, the applicant will need to explain why the laptop, tablet or phone will transform their business. A link to the refurbished item will also be required, with an explanation of why they need this piece of specific technology.
You’ll need to complete the application form as fully as possible. Tell us about anything particular in your background, including your economic background, which would help us to understand any challenges you have faced or still face. If you need help, please let us know and we’ll put you in touch with an organisation that can help.
Who can apply?
You can apply for a grant from this Fund if you:
- live in Somerset, North Somerset or BANES
- are aged 18 to 30
- are planning on starting a business within the next couple of months
- are at the pre-revenue generating stage or have made a few initial sales.
Please bear in mind that applications based solely on business ideas won’t be considered. You’ll need to show that you have taken steps to get your business off the ground by putting time and energy and thought into it.
Information on any market research that you’ve undertaken as well as sales and cost projections will all help to make your application more likely to succeed.
When do I have to apply?
This Fund is open all year round.
How likely am I to get a grant?
Sadly, we can’t provide funding to everyone that applies to us and we are not always able to award the full amount applied for.
How are decisions made?
Your application will be assessed by one of our team. They’ll read through what you’ve written and look at the business idea and the steps you’ve already taken. They may contact you if they have any questions.
You may then be invited to an online meeting where you can tell us more about your business. There will be a member of the Somerset Community Foundation team on the call as well as someone from SWEF.
How do I apply to this programme?
The next step is to fill in our online application form. You need to fill out the form as fully as possible. Think practically about your business. For example:
- Where are you going to buy what you need and how much will that cost each month?
- What do you need to buy for your business and where are you going to get it from? You’ll need to provide weblinks.
- How much are you going to charge your customers?
- How many customers do you think you’ll have to start with?
- How will you find your customers/promote your business?
- How much money do you expect to make from your business in the next 6 months?
Please contact us if you’re unable to use the online form or can’t attach a document. We can support you to make your application in another way. You may also be able to get some support from the groups below:
Sources of support
The following organisations may be able to help you with your application, developing your business idea and preparing a business plan:
- Money Helper provides advice and information on a wide range of topics.
- Heart of the South West Growth Hub offers free business support and advice to start-ups and businesses across Devon & Somerset (excluding North Somerset & BANES).
- West of England Growth Hub offers free business support and advice to start-ups and businesses across BANES and North Somerset.
- Edventure Start-Up Course in Frome/Taunton. A free, part-time, 11-week course in community entrepreneurship and turning ideas into reality. Learn skills & tools from the real experience of starting-up a real social enterprise as part of a team.
- Future Bright provides tailored business support for individuals aged 18 and over living in Bath & North East Somerset who are in paid work (including zero hours and self-employed).
- Cool Ventures provide funded business support, workshops and mentoring for individuals of all ages.
- Enterprise Nation offer free online support on a range of subjects related to setting up and running an enterprise.
- SBA offer training, business and skills support for individuals running or looking to start their own business in Somerset.
- School for Social Entrepreneurs offer programmes and guidance with some fully funded options for individuals looking to set-up or grow their social enterprise.
- Diversity Voice are a charity who help refugees, asylum seekers and migrant workers to settle into the community across the whole of Somerset. They also offer support on starting a business.
Get help with this funding programme
If you’d like to find out more about this funding programme, want to ask us any questions or need help with an application, get in touch. You can also book a time to chat to us online.
Grant details
| Grant size: | Up to £500 |
| Apply by: | Open all year round |
| Decision in: | Every month |
Who is it for?18–30-year-olds in Somerset, BANES and North Somerset.
What is it for?To help take your pre-revenue stage business forwards.
