SWEF Enterprise Fund - Established Business Grant
Grant details
| Grant size: | Up to £2,000 |
| 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 you grow and develop your new business.
What can I use this money for?
The SWEF Enterprise Fund – Established Business Grants are for individuals whose business is already been trading and is less than 2 years old. You can apply for up to £2,000 to support growth and development. This funding can be used for expanding your product lines or the range of services you can offer, upgrading equipment, or other business needs that will help increase your revenues.
This money can be used to help fund the following:
- equipment that will help a business bring in a second revenue stream
- equipment that will help a business increase production where there is proven demand
- materials/stock for a new product line
- prototypes
- website/booking system build
- training
- product development.
What can't this money be used for?
The grant can’t be used for:
- salaries
- debt repayment
- software businesses or app development
- rent and utility bills
- purchasing stock for an existing product line
- ongoing software subscriptions
- development of businesses carrying out invasive aesthetic procedures.
The grant can’t be used for new computers, tablets or phones. On a match funded basis, SWEF will consider applications for refurbished technology. However, for this to be considered, you’ll 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.
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 running a business that has been trading for less than two years
- have already made sales from your business.
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.
The link below opens an application form, and you’ll receive an email link that allows you to return to the form before submitting. At the end of the form, you have the option to attach documents. You can use this to attach proof of Universal Credit, for example. You can request proof of Universal Credit through your journal on your online account or by contacting the benefit office that pays you.
We may ask for further information, evidence to confirm the information within your application, or the contact details of a referee. A referee is a person who can tell us about your character or abilities and can confirm your circumstances. This might be a tutor, or someone who you’ve worked for. If we would like you to provide further information, evidence or a referee we’ll ask you.
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?
- 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 £2,000 |
| 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 you grow and develop your new business.
