The Terriers sit sixth in the Championship table after 16 games, following last season's dramatic play-off final penalty shoot-out victory.
Despite maintaining that survival is the only aim for this campaign, Grayson admits that due to Hoyle's backing, his side can achieve a lot more.
He said: "The chairman has certainly backed me. He is a chairman who is desperate for the club to do well. He wants to build a legacy at this football club.
"The structure is in place for it to be a big club once again, it's certainly moving in a positive direction."
Grayson added: "The aim is to make sure we are in the Championship next year. There is no added pressure. But if we can keep all the players fit and hungry, who knows what could happen?"