What is the Swansea Business Funding?
A grant scheme offering up to £1,000 for individuals either entering self-employment or starting a new business. The Swansea Business funding is for new businesses; either just starting or businesses that have started within less than two years of application date. Businesses must be based within the Swansea Council area. Grant funding covers items such as equipment, qualifications, accountancy, software, web development, training and tools. This fund will be prioritised to individuals on Universal Credit / Income Support.
How much financial assistance is available?
- Grant awards will range between £500 – £1500
- All funding must be match funded at 50% by the applicant business. These is no limit to total project costs but funding will be capped at £1500.
- If the business is VAT registered, VAT will be an ineligible cost. VAT will be an eligible cost in non-VAT registered companies
Eligible businesses as well as those in their supply chains which are liable to pay non-domestic rates could be entitled to grants of £2,000, £4,000 or £6,000, depending on their rateable value.
The Swansea city council offers a number of small grant schemes, although larger amounts are somewhat thin on the ground. The Local Investment Fund, partially funded by the Convergence European Regional Development Fund, will provide almost 2,000 grants of up to £5,000 to help new and existing businesses grow and expand. Some support is also available from the Swansea Centre for Business, which provides subsidised training, professional advice and consultancy for start-ups and growing businesses based in the city
