Finance & Moneyintermediate
Business Grant
Definition
Free money from a government body, council, or organisation given to businesses that meet specific criteria, unlike loans, grants do not need to be repaid.
Why it matters
Grants are underused by small business owners. Thousands of pounds in free funding are available for UK businesses, from Innovate UK to local councils to sector-specific bodies.
Example
You apply for a £5,000 Innovate UK Smart Grant to develop a new product feature. You win it. That is £5,000 of non-dilutive funding that you never have to repay, better than any loan.
Related terms
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