Helping young people change their lives through entrepreneurship

79% of young people from disadvantaged backgrounds cite lack of funding as the biggest barrier to starting a business*. SWEF exists to tackle this barrier.

Through this partnership, HIWCF and SWEF are supporting the next generation of small business owners and entrepreneurs across Hampshire, Southampton, Portsmouth and the Isle of Wight.

By providing business grants of up to £2,000, this partnership is designed to unlock investment in the things young people need to make their business a success. For some this might be a piece of equipment that helps them be more productive, for others this could be helping them set up a website.

Katie Sharp a Grants Manager at SWEF explains that SWEF was founded to unlock the potential of young entrepreneurs, particularly those who have taken the first steps with their great idea but lack access to traditional business loans and finance.

“We launched SWEF after realising that although there is a lot of support and advice for young people trying to launch their first venture, there is virtually nowhere to get the cash injection they often need.” It’s a really supportive application process with SWEF saying that they don’t need a lengthy business plan, just evidence on the application form of “initiative and a strong work ethic”.

HIWCF is offering 2 types of SWEF grant:

1. Start-up grants up to £500 are suitable for businesses that don’t yet have customers or are in very early stages.

2. Business grants up to £2,000 are for business that have revenue of £500+ a month but are still in their first 2-years of trading.

Grantees not only receive their cash injection of funds but also benefit from access to SWEF’s business community – a peer network where they can exchange ideas, ask questions and gain support from other new business grant recipients.

*British Business Bank (2023) ‘Alone, together: Entrepreneurship and diversity in the UK’