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Grants are a method of financing your business where:

Examples of Grant Finance

Innovate Uk

Sector specific funding – e.g. Digital and Creative

Grants for consultancy services to help you improve your business

Pros and Cons of Grant Finance


  • You don’t have to pay the money back
  • You don’t have to secure assets, personal or company, to get the funding.
  • As the cost of the funding is zero, it can allow more risky projects to take place that may otherwise not be carried out. i.e. risky R&D projects
  • You don’t need to sell a share of your business to get the funding
  • The legal costs of acquiring the finance may be less than that raised via equity


  • It can take a long time to get funding
  • There is generally significant administration involved in both attaining funding and with post-funding reporting
  • You may spend significant time applying and wait significant time for an answer, yet still not get the funding.
  • You may have to pay all the money out first before getting the grant and so you may need other sorts of funding to bridge that funding gap.
  • You may not get 100% of the funding you need - it may only be a contribution and so require gap funding.


Types of Business Finance and Funding