Swindon enjoys the status of one of the Five Fast Growth Cities, which further attracts more investment to the market. Its proximity to London and its conducive business environment allow business owners to harness the sea of opportunities here. But, business owners can also look forward to availing authentic funds and grants for their benefit. Follow ahead to learn about the best business grants for Swindon residents.
Best Grants for Businesses in Swindon
1. Wiltshire Community Foundation Grant
This fund is for young entrepreneurs aged between 18 to 30 years. The £2000 fund is supposed to help the beneficiaries either start their own business or use the funds towards the development of an existing one.
Purpose
The main purpose of this grant is to help beneficiaries buy business-related equipment and materials. stock, equipment, and materials for their business. However, you cannot use this grant amount to pay employee salaries and debt and clear any household bills.
The beneficiaries can access the SWEF community. It’s a network of peers and fellow entrepreneurs hustling to build their businesses. Together the community can become a source of knowledge and inspiration for the members. They can share ideas and learn from each other while working on their businesses.
Provider
Two organisations run the fund;
- Wiltshire Community Foundation
- South West Enterprise Fund
Eligibility
- Aged between 18 to 30 years
- Must be living in Swindon and plan to start a business in the next 6 months
- Running their own business for not more than 2 years
- Must have exhausted all other sources of financing
How to Apply?
Apply from the official SWEF website and submit the required documents. The selected applicants may be called in for an interview.
2. ESFA Community Training Grants
The ESFA Community Training Grants of £5,000 to £20,000 are given to unemployed and economically inactive residents. The purpose is to motivate them to move towards building a source of livelihood. For 2023, the ESFA Grant will be given to 189 participants from Swindon and Wiltshire.
Purpose
Through this grant, the government is looking to educate and train the beneficiaries in different skill sets. This education is going to help them become better entrepreneurs. Swindon business owners get to explore the wide area of opportunities connected to the government.
The total grant amount is between £5,000 to £20,000, but for Swindon and Wiltshire, the ESFA grant is limited to £1175.55 for each participant. The usage of grants must drive more people towards employment and training.
Provider
- Education and Skills Funding Agency
- European Social Fund
- Groundwork London
Eligibility
- The applicants must be from the third sector industry or running a small organisation of fewer than 46 employees
- The company must have a turnover of less than €10 million or £8,804,900
- The applicants must be over 16 years of age and can legally work in the UK
Priority Applicants Group
- Participants over 50 years of age and those with disabilities
- Women entrepreneurs
- Ethnic minorities
How to Apply?
You can apply from Groundwork London’s official website. A detailed prospectus is available for your reference to check the list of documents required for application.
How to Utilise Funds Availed?
You need to know the conditions for the usage of funds. After availing of the grants, always use them smartly for the benefit of your business. You can use them to source new equipment, build an advanced facility, get IT support, expand partnerships, etc.
The key here is to utilise the funds that support your business growth and complements the existing framework.
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Conclusion
Swindon is an amazing city to do business in, and it offers several opportunities to local business owners. This includes a conducive work environment, good competition, and lenient business laws. With the help of business grants, these organisations can inject much-needed funds into their operations and grow further. But to complement all these efforts, businesses also need a great marketing strategy.
Get in touch with Head45 to know more about how SEO and web designing can help Swindon businesses progress further.
