The SWEF Enterprise Fund

Fund Guidelines and Criteria

Community Foundation NI is working in partnership with SWEF Enterprise Fund which helps young people from Northern Ireland develop their business idea and gain support with business investment that they would otherwise not be able to afford.

Grants of up to £2,000 are available to help young people in Northern Ireland who are running their own business which has been trading for no more than 2 years or planning to start their own business imminently, to help a business expand or become more sustainable.

Eligibility

To be eligible to apply, you need to:

• Be between the ages of 18-30
• Live in Northern Ireland
• Be running your own business which has been trading for no more than 2 years or planning to start your own business imminently
• Be from a low-income household or facing other financial challenges preventing you from developing your business

You must be able to demonstrate that you have already taken steps to get your business off the ground, even if this is at a very early stage. Examples may include, but are not limited to, evidence of making your first sales, free/pro bono work delivered in order to develop examples of your work, market research to identify market potential and business plans.

What can I apply for?

The grant can be used for equipment, materials, product development, stock for a new product line, one-off costs such as a website build or other services.

You cannot apply for your salary or living costs, debt repayment, rent and utilities, stock for an existing product line or ongoing software subscriptions.

We welcome applications from groups that are often underrepresented in business, including people on low incomes, women, migrants, ethnic minorities, people with disabilities, people with few or no formal qualifications. 

Application Form Guidelines

Application Process

If you meet the above criteria you can apply for a grant of up to £2,000, regardless of your background or how well you did in your education. If you ask for £500 or less and are successful, you will be able to re-apply for a second grant at a later stage. Very early-stage businesses should consider if an initial smaller grant is helpful, before applying for a larger amount.

We need you to tell us about your business in your application form, and how a grant would help you to make it more successful or enable you to take your business to the next stage.

We also need you to send us a copy of a recent bank statement (no more than three months old) to confirm your account details, should you be successful. We can only pay grants into a business bank account that matches the business name in your application – if you don’t have a business bank account yet, you will require one, if you are successful, as we will not pay grants into personal accounts.

We may also invite you to a meeting (either online or in person) to tell us more details about your business.  If this is the case, we will email you to arrange a date and time.
 
Before Starting Your Application 

Applications solely for business ideas cannot be considered. You must be able to demonstrate that you have already taken steps to get your business off the ground, even if this is at a very early stage.  It is important that you think about your business idea and explore why you think the product or service you will provide is needed or will succeed before applying for a grant. The more steps you have taken to start or grow your business, the more likely you are to receive a grant. For example:  Have you undertaken any market research to find out if anyone would buy your products or use your services. A good starting point would be to ask friends, family or even approaching other local businesses to see if they would use your service or if they have any advice.  Have you identified your potential costs each month such as staff wages, rent, energy.

Completing the online application form 

You do not have to complete the application form in one go. If you wish to leave the form and come back to it later, press the ‘Save as draft’ button at the bottom of the form. You will be able to access your application form at any time by using the link you received when you first registered with us.

If you find anything unclear or confusing or would like to talk to us, call us on 02890 245927 or email: applications@communityfoundationni.org

Sections 1 and 2 – About you, your business and budget breakdown 

This section will collect your contact details and allows you to tell us about yourself.
Please tell us about yourself – provide a brief paragraph which includes where you grew up, where you went to school, what have you done since you left school, what qualifications you hold.

What are you currently doing – provide a brief paragraph to tell us what you are currently doing
e.g. if are you still in education, tell us where and what qualifications you are studying; if you are working, tell us where and how many hours you work each week; if you are unemployed, tell us how long you have been out of work and if you are claiming any benefits.

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  – this will help us understand your circumstances and any challenges you may have faced e.g. if you or someone in your home has a disability or additional need, or you come from a low-income family claiming benefits etc.

Business Information – this section allows you to tell us about your business and how a grant would help you to make it more successful or support start-up costs. There are no “right” answers or the “right” sort of words to use in the application. If a question has several parts, use bullet points to answer each part.  Information we will ask for here includes:

• Describe the products you make or sell, or the services you provide
• Customer and competitors
• Market Research
• Where do you plan to sell your product or service and where would you advertise or promote your business
• What time and money have you already put into the business
• What do you estimate your monthly sales to be
• What do you estimate your monthly costs to be

Breakdown – this section allows you to tell us how much grant you are applying for.  Whatever you would like to use the grant for, you will need to provide a breakdown of how much grant you are applying for and specify what you would spend the funds on.  Please include any weblinks for items you intend to buy or quotes received from external contractors.

What can I apply for?
The grant can be used for equipment that will help you bring in a second revenue stream or increase production where there is a proven demand, materials or stock for a new product line, product development, prototypes, one-off costs such as a website or booking system build, or training.

You cannot apply for your salary or living costs, debt repayment, rent and utilities, stock for an existing product line or ongoing software subscriptions.  The grant cannot be used for brand new computers, tablets and phones. However, applications for refurbished technology will be considered if you are:

• able to make a contribution towards the cost of the item/s.
• able to explain why the refurbished laptop, tablet or phone will support your business.
• able to provide a weblink to the item/s and describe why this has been chosen.
• you also cannot apply for your salary or living costs, debt repayment, rent and utilities, stock for an existing product line or ongoing software subscriptions.

Avoid general terms like ‘marketing’ that do not provide enough detail about how you will spend the grant. Applications for ‘match funding’ are particularly welcome – this means that you already have some funding but need an additional contribution).

If you ask for £500 or less and are successful, you will be able to re-apply for a second grant at a later stage. Very early-stage businesses should consider if an initial smaller grant is helpful, before applying for a larger amount.

Section 3 – Additional Information and Equal Opportunity Monitoring

This section allows you to provide us with more information about why the grant is needed and how this grant will improve, sustain or grow your business.
You can also provide any additional information you feel is relevant to your application.  You don’t need to put anything in this part of the form unless you wish to do so. However, you can use this section if you wish to explain, clarify or add any additional information to support your application and why you need the grant.

Supporting Documents
As well as completing the form, we also need you to provide supporting documents to confirm you are eligible to apply. The below documents can be uploaded at the end of the form by clicking on   ‘Add Document’.

• Proof of address e.g. bill/letter/driving licence confirming your address in Northern Ireland
• Proof of identity e.g. birth certificate/passport/driving license
• Evidence of your current income e.g. benefit statements, pay slip, accounts
• Evidence of your business e.g. business plan or evidence of trading (recent invoice, rent agreement)
• Copy of business bank account statement, dated within last 3 months

What happens after I have submitted my application?

Initial assessment – you will receive a confirmation email once you have submitted your application, which will include a copy of your application as an attachment.  We will check it is complete and eligible. If you have not submitted all the supporting documents, we will contact you, usually by email and ask you to send them to us.
Meeting – we may invite you to a meeting where you will be able to tell us more about your business. The meeting will usually take place online with 2 people, a member of staff from the Community Foundation NI and someone from SWEF Enterprise Fund. We aim to make a final decision on your application within 6-8 weeks.
Award – if you are awarded a grant you will be asked to accept the terms and conditions of the award and the grant will be paid directly to you by BACS. We can only pay grants into a business bank account that matches the business name in your application, so if you don’t have a business bank account yet you will be asked to set one up. You will receive payment of the grant a month after the terms and conditions have been accepted.
After the award – we will contact you, usually 6 and 12 months after you received the grant to find out how your business is progressing. You will also have the opportunity to take part in a business forum with other businesses that have been awarded a grant. The forum offers a space to share, exchange ideas, experiences and learn.

Useful Resources 
You may find the below websites useful they include tools, templates and other sources of funding:

Business Tools & Templates 
Princes Trust Business Support:
www.princes-trust.org.uk/help-for-young-people/tools-resources/business-tools
www.princes-trust.org.uk/help-for-young-people/support-starting-business
https://www.princes-trust.org.uk/how-we-can-help/tools-resources/business-tools/business-plans
www.youtube.com/freebusinesstips

Prospects – How to Start a Business / How to Write a Business Plan:
www.prospects.ac.uk/jobs-and-work-experience/self-employment/how-to-start-a-business
www.prospects.ac.uk/jobs-and-work-experience/self-employment/writing-a-successful-business-plan

Business Funding:
www.gov.uk/business-finance-supportsmallbusiness.co.uk/small-business-grants-uk-2548113/
www.gov.uk/business-finance-support
www.british-business-bank.co.uk/finance-hub/grants-finance/

Refurbished IT Equipment can be purchased from:
www.currys.co.uk/computing/laptops/laptops/refurbished-laptops
www.dellrefurbished.co.uk/laptops
www.laptopsdirect.co.uk/ct/tablet-pcs-and-e-readers/tablet-pcs/refurbished
Other suppliers are available, and we recommend searching on the internet for the best deals