A grant is a sum of money given to a company with no expectation of repayment. Grants are usually specifically targeted at business sectors and profiles. For example, there are grants available for those who have just left prison. Competition prizes are very similar to grants except there is considerable publicity attached to winning the prize money.
There are many organisations that provide grants for people starting and in business. Some organisations run competitions where the “best” idea or team wins a prize to help them with their business. Usually the grant will come with help: courses in running businesses; mentoring; workshops; some publicity; etc.
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