Grants

A sum of money that is given to your business.
The main aim is often to support economic development and regeneration.
Grants are given by central and local government and the European Union, business support agencies and a number of other bodies. Social enterprises can sometimes get grants from charitable trusts.
Each fund will have its own criteria that you will have to meet to be eligible to apply.
The funder generally will ask you to meet particular goals or targets.
The funder will monitor and evaluate how you have used the grant.
Funding will usually relate to a specific project or purpose, for example investigating a new market, developing a new product or service.
Grants are often less than 100%, so it’s likely you’ll have to put in some of your own money.
May be paid in arrears.
Don’t usually have to be paid back.

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