The SWEF Enterprise Fund has been established to support young people aged 18-30 setting up and developing a business in Derby and Derbyshire.
SWEF is a national funder, partnering with community foundations across the UK to ensure their funds can reach entrepreneurial young people needing assistance.
The Fund has two distinct strands
1: Start Up Grants
Grants of up to £500 for young people in Derbyshire who are launching a new business.
2: Business Grants
Grants of up to £2,000 to young people in Derbyshire who are running a new business, to help the business make a transformational change or take a significant step forward in its development.
You can find out more about each grant type below but we would strongly recommend speaking to the Foundation Derbyshire team first to ensure you are not only eligible but are accessing the right strand for where you are now on your business journey.
SWEF Start Up
Who can apply?
• be aged 18 to 30 and currently live in the county of Derbyshire or Derby City
• have a business that is either not yet trading (with plans to start within three months of the application), has been trading for less than two years with monthly revenue below £500
• be experiencing financial challenges that are preventing business development
• be either the majority shareholder of the business or, where applicable, all shareholders must be aged 18 to 30
• have a business bank account or be in the process of setting one up
Your application form must show that:
• your business idea has the potential to be profitable and to be your sole work focus
• you have enough relevant experience and/or training to potentially succeed
• you have specific plans for how you will spend the grant, such as web links and costs for the items requested
What the fund will support:
• equipment that will help achieve increased profit
• materials or stock
• prototypes and product development
• building a website or booking system
• training
• other business costs that will make a significant impact
• goods or services to be purchased using the grant ideally should be sourced from UK businesses
What the fund will not support:
• salary or living costs e.g. rent or utilities
• debt repayment
• new computers, phones, tablets (we can consider second-hand or refurbished versions)
• app development or software development costs – apps/software should be ready to launch or already launched at the point of applying to SWEF (we can consider wireframes)
• invasive beauty treatment such as botox, aesthetics, semi permanent makeup, facial tattoos, dermal fillers
SWEF Business
Who can apply?
• be aged 18 – 30 and currently live in the county of Derbyshire or Derby City
• operate as a sole trader, limited company, or CIC limited by shares that has been trading for less than two years
• be generating a minimum profit of £500 profit per month
• be experiencing financial challenges that are limiting business development
• be either the majority shareholder, or where applicable, all shareholders must be aged 18 to 30
• have a business bank account or be in the process of setting one up
Your application form must show that:
• your business idea is currently your main focus, or will become so in the near future
• the grant will be used to significantly develop the business and support progression to the next stage
• you have clear and detailed plans for how you the grant will be spent, including costs and supporting evidence such as web links
Please note:
• applications that involve ‘match funding’ or the purchase of second hand items are particularly welcome
• where a contribution is requested towards a single item costing more than £2,000, the grant must cover at least 25% of the total cost
• successful applicants will receive one business grant only, which may be less than the maximum amount: repeat applications are not permitted
What the Fund will support:
• equipment that will help achieve increased profit
• prototypes and product development
• building a website or booking system
• training
• other business costs that will make a significant impact
• goods or services to be purchased using the grant should be sourced from UK businesses
What the Fund will not support in addition to our normal exclusions:
• salary or living costs e.g. rent or utilities
• debt repayment
• Ongoing software subscriptions
• new computers, phones, tablets (we can consider second-hand or refurbished versions)
• stock, materials or other ongoing costs for existing product lines
• app development or software development costs – apps/software should be ready to launch or already launched at the point of applying to SWEF (wireframes can be considered)
• invasive beauty treatment such as botox, aesthetics, semi permanent makeup, facial tattoos, dermal fillers
Closing Dates
There are no fixed closing dates, you can request an application at any time during the year and we’ll aim to get you a decision within 4 weeks of submission.
All decisions are taken by the SWEF team, as opposed to Foundation Derbyshire
Making An Application
Due to unique nature of this Fund we request you chat to the grants team first to undergo an initial review to see if you are eligible and so we can explain more about the process and what to expect – our aim is to develop a relationship and understanding of your business from the outset so we can support you every step of the way
Email us to arrange a call: hello@foundationderbyshire.org
