SWEF Enterprise Fund
Description: SWEF is a new fund aiming to support a variety of young Cornish people aged between 18 - 30 years old who do not have the initial starter funds to get their business ideas off the ground.
Type: Individuals
Status: Open
Maximum: Grants are awarded up to £2,000
Opening: 25/01/2022
Deadline:
Notes: Applications will be reviewed on a monthly basis
The SWEF Enterprise Fund is a funding stream aiming to support a variety of young Cornish people who do not have the initial starter funds to get their business ideas off the ground.
The fund is for 2 sets of young people:
- Those who have already shown some initiative in getting their new business off the ground
- Those who have an idea and need some funding to get their idea off the ground.
To be eligible for a grant you must:
- Be resident in Cornwall or the Isles of Scilly
- Be aged between 18-30 years old
- Be able to demonstrate your business idea and know what products or services you want to provide or have been trading for under 2 years.
Fund information
- Grants are awarded up to £2,000
- Grants must be spent within one month of receipt of funds and feedback given after 12 months.
Eligible Use of Funds
- 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
Ineligible use of Funds
- Salaries
- Debt repayment
- Rent and utilities
- Stock for an existing product line
- Ongoing software subscriptions
- New computers, phones, tablets
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 their business.
– Provide a link to the refurbished item with an explanation of why they need this piece of specific technology.
As part of the application process, the applicant will be asked some questions about their business, the journey taken up until now, how their business will benefit the local community, how it will impact their family life, how will they make a profit and, if appropriate, how they intend to grow the business.