Apply for the HSBC Business Growth Grant

Innovative small firms offered £50k prize

HSBC Business Growth GrantInnovative small businesses looking to expand or develop new products or services are being given the chance to win £50,000, following the launch of HSBC’s Business Growth Grants competition.

Four prizes of £50,000 each are available – two will go to small businesses developing their ideas in the UK, and two will be awarded to businesses expanding overseas.

To apply, business owners should submit their ideas and demonstrate how the prize money would help them grow their company. The five best entries in each category will then be invited to pitch in person to a panel of judges.

Stephen Price, head of UK commercial and business banking at HSBC said the competition would provide an “essential financial boost” for firms looking to develop.

“HSBC is committed to supporting strong viable UK businesses across all sectors and I would encourage any small-business owner, looking to expand their business, to apply.”

To be eligible to enter the competition, firms must have been trading for at least one year, have an annual turnover of between £100,000 and £2 million, be able to provide financial information for the past year and forecasts for the next two years.

The deadline for entries is 31 December and the winners will be announced by 31 March 2012.

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