The pre-start business grant scheme being delivered by Swansea Council will help cover the costs of equipment or tools, website development and business software, training, accreditation and marketing and promotional work.
The grant is part of the business support anchor project being funded by the UK Government’s Shared Prosperity Fund.
It covers 95% of the of project costs for the first £1,000 of expenditure and 50% for expenditure of between £1,000 and £10,000.
People either entering self-employment or starting a new business are being invited to apply, although established businesses won’t be eligible for this particular grant.
Other grant schemes for established businesses will be announced in the coming weeks.
Cllr Robert Francis-Davies, Swansea Council’s Cabinet Member for Investment, Regeneration and Tourism, said: “Swansea has so much entrepreneurial talent and people with fantastic business ideas, but they often need financial support to get started – which is why we’ve now introduced this grant scheme.
“We also very much recognise the hugely important contribution our established businesses make to the city’s economy, so a number of grant schemes to help those businesses will very soon be announced too.
“They will follow on from a website development grant scheme that’s also now live, with applications now being invited from businesses of all kinds.”
Also being run by Swansea Council and funded by the UK Government through the Shared Prosperity Fund, the website development grant can contribute up to 50% of project costs to a maximum of £1500.
Eligible projects under this grant include revenue costs associated with developing or improving an online presence. Improving a website by adding e-commerce or strengthening cyber security could also be considered, as well as digital marketing if it’s aimed at supplementing a new or enhanced website build.