Grants available to Lincolnshire young entrepreneurs
Lincolnshire Community Foundation is working in partnership with SWEF (South West Enterprise Fund) to offer two business grants to young entrepreneurs aged between 18-30 across Greater Lincolnshire. One is for people whose business is yet to make any income or sales, and the other is for businesses that have already started trading.
SWEF Start-Up grants are for individuals whose business is still in the start-up or pre-revenue phase. The grant provides up to £500 to cover essential costs of turning a business idea into reality, such as essential equipment, materials, stock, website building, product development and training.
SWEF Established Business grants are for individuals whose business has already started trading and is less than 2 years old. Applicants can apply for up to £2,000 to support growth and development. The funding can be used for expanding operations, upgrading equipment or other business needs that will help increase revenues.
Applications are made online, and applicants receive an email confirming their application has been received. If there are any further questions or additional information is needed, a member of the Grants Team will be in touch within two weeks.
Lincolnshire Community Foundation and SWEF then decide who to invite to a meeting to discuss their application further, and who to award grants to, taking into consideration whether the applicant meets the eligibility criteria for the fund, the plan for the business, and how a grant would help to start that business and/or make it more successful. Applicants are told the outcome within 2 months of submitting their application.
Successful grants are paid directly by bank transfer to a business bank account, in either the business or sole trader name, and anyone unable to provide this needs to explain why. Grants must be spent within 1 year, with feedback provided at 6 months and 12 months after the grant offer is received.
More information and to make an application can be found here.
