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Financial support for businesses

Access to finance can be an important aspect to starting and growing your business. We work closely alongside a range of partners to provide access to financial support.

The availability of funding can change on a regular basis so continue to monitor this page for regular updates.

Grants and loans from Swansea Council

Shared Prosperity Fund grant schemes

Levelling up and funded by UK Gov logos - ENG.

Pre-Start Grant

This is a grant with the objective of supporting start-up businesses. The grant is available to pre-start businesses only and can fund costs including but not limited to equipment, training, accreditation and marketing. 

The maximum grant available is £10,000. The fund offers up to 95% of the project costs for the first £1,000 of expenditure and 50% for expenditure between £1000 - £10,000. All applicants will be required to provide a business plan and a 12 month cash flow forecast.

For further details and to request an application form, please email startupgrant@swansea.gov.uk.

This project is funded by the UK Government through the UK Shared Prosperity Fund. 
 
Website Development Grant 

This is a grant with the objective of adopting a new technology through online/website development. The grant can fund costs relating to the creation of a business website for the first time or enhancement to an existing site.

The maximum grant available is £1,500. The grant will require applicants to provide 50% of costs in match funding. All applicants will be required to provide a business plan/summary and a 12 month cash flow forecast.

For further details and to request an application form, please email growthgrant@swansea.gov.uk.

This grant is funded by UK Government through the Shared Prosperity Fund.

Business Growth Grant

This is a grant with the objective of supporting business growth through introduction of a new product or service. The grant can fund costs including but not limited to equipment, IT systems and machinery.  

The maximum grant available is £50,000 based at an upper limit of £5,000 per job created and/or safeguarded. Jobs created and/or safeguarded, the new product or service and the proposed spend must all be directly linked. All applicants will be required to provide a business plan/summary and a 12 month cash flow forecast.

For further details and to request an application form, please email growthgrant@swansea.gov.uk.

This project is funded by the UK Government through the UK Shared Prosperity Fund.

Business Innovation Grant

This is a grant with the aim of supporting business growth through Innovation. For businesses looking to develop new products, innovation or processes to support innovation and growth within the business.

Projects will encourage a greater level of business innovation, support business to develop innovative product and process solutions to enhance their growth and competitiveness.

For further details and to request an application form, please email growthgrant@swansea.gov.uk.

This grant is funded by UK Government through the UK Shared Prosperity Fund.

Carbon Reduction Grant

This is a grant with the objective of enabling businesses to work towards net zero carbon. The grant can fund costs including renewable energy generation, energy conservation measures and changes to manufacturing processes which result in carbon reduction; applicants must be able to calculate their forecast carbon savings.

The maximum grant available is £10,000. The grant will require applicants to provide 50% of costs in match funding. All applicants will be required to provide a business plan/summary and 12 month cash flow forecast. 

For further details and to request an application form, please email growthgrant@swansea.gov.uk.

This project is funded by the UK Government through the UK Shared Prosperity Fund.

Toward Net Zero Carbon training

As the world focuses on reducing carbon emissions, businesses have an important role to play in reaching global climate goals. Our training course aims to equip small and medium-sized businesses in Swansea with the knowledge and skills necessary to achieve carbon neutrality, build resilience to climate change and increasing energy prices, and contribute to a sustainable future.

During the training course, participants will learn about the basics of carbon reduction and the path to net-zero emissions. We will cover topics such as energy efficiency, renewable energy, sustainable transportation, waste reduction, and more. Additionally, we will provide hands-on activities and case studies to help participants understand how to apply these concepts in their own businesses.

This course is mandatory for any business wishing to access the Carbon Reduction Grant. 

Online booking for future training - Toward Net Zero Carbon (eventbrite) (opens new window)

Supplier Development Grant

This is a grant with the objective of providing a new service upon undertaking training to gain a sector recognised accreditation. This will aid businesses wishing to bid for public sector and/or larger scale contracts. 

The maximum grant available is £1,000. The grant will require applicants to provide 50% of costs in match funding. All applicants will be required to provide a business summary and 12 month cash flow forecast. 

For further details and to request an application form, please email developmentgrant@swansea.gov.uk.

This project is funded by the UK Government through the UK Shared Prosperity Fund.  

Placemaking grants

Grants of up to £30,000 are available for improving small commercial and district shopping centres across the City and County of Swansea which are outside the city centre (subject to subsidy control rules).

More information: Placemaking grants

This project is funded by the UK Government through the UK Shared Prosperity Fund. 

UK steel grant

A grant scheme in partnership with UK Steel Enterprise Ltd offering up to £500 for new start-ups or businesses which are under 2 years old in the Swansea Council area. However, the grant will only cover 50% of the eligible project costs and the minimum grant payable is £250. 

Grant funding covers items such as equipment, qualifications, accountancy, software, web development and tools.

The funding pot is limited and will be allocated on a first come, first served basis. For further details, please contact startupgrant@swansea.gov.uk.

Town centre loan fund

We have a loan fund of £2,000,000 from the Welsh Government as part of the Town Centre Loan scheme. 

The areas covered by the scheme include Swansea city centre and Morriston town centre.

Find out more about the Town Centre Loan scheme and how to apply Town centre loan fund

Transforming Towns: placemaking grants

Transforming Towns was launched by the Welsh Government in January 2020 to address the decline in town and city centres and the reduced demand for high street retail. The focus of the programme is sustainable growth of our towns and cities, and their transformation into places of living, working, learning and leisure. 

Find out more about Transforming Towns Transforming Towns: placemaking grants

 

Regional and local financial support schemes

Development Bank of Wales (opens new window)

The Development Bank of Wales was established by the Welsh Government to support the economy of Wales by making it easier for businesses to get the finance needed to start up, strengthen and grow. Funding available ranges from £1,000 to £5m and is available to businesses from start-up upwards. Interest rates will vary between 4-12% but are fixed for the term of your arrangement.

Prince's Trust (opens new window)

The Prince's Trust entrepreneur programme is eligible to new young entrepreneurs aged 18-30 years old. The programme provides access to interactive workshop, business mentoring and the opportunity to apply for a £750 start-up grant and direct access to a start-up loan of £500 - £5000.

 

National support programmes

New Enterprise Allowance (opens new window)

The New Enterprise Allowance is a government scheme designed to support individuals in receipt of certain benefits into self-employment. In addition to receiving an allowance for up to your first six months, you will have access to a business mentor who can provide advice on accessing further finance.

To access this service speak to your local Job Centre Plus Work Coach.

 British Business Bank (opens new window)

The British Business Bank offers loans of up to £25,000 for start-up of business growth projects. Loans are fixed at 6% interest per annum with repayment periods of between 1-5 years. This scheme is backed by UK Government and includes 12 months of free mentoring.

UK Innovation Competitions (opens new window)

Finance available for SMEs undertaking R+D projects. Innovate UK have a range of Innovation competitions available to appropriate projects.

UK Innovation - search for a competition (opens new window)

UK Steel (UKSE) (opens new window)

UKSE are able to invest in projects that are valued at £25k+ with unsecured lending or equity funding for projects £100k+ particularly those aimed at energy and manufacturing. 

UnLtd (opens new window)

UnLtd finds, funds and supports social entrepreneurs - enterprising people with solutions that change society for the better. New ventures may be eligible for awards of between £500 and £5000, social ventures looking to grow may be able to apply for up to £15,000.

Town centre loan fund

We have a loan fund of £2,000,000 from the Welsh Government as part of the Town Centre Loan scheme.

Transforming Towns: placemaking grants

Transforming Towns was launched by the Welsh Government in January 2020 to address the decline in town and city centres and the reduced demand for high street retail.
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