Britain’s best business brains are being urged to enter a new competition and compete for a share of a £90 million-plus prize pool.
Banking giant HSBC has launched Business Thinking 2010 – an enterprise initiative with an international twist.
More than 50 shortlisted high growth potential businesses will be invited to take part in a series of “Thought Exchange” visits to the Americas, Asia and Europe, where they will get to pick the brains of business mentors and find out about some of the ideas and management techniques that can be used to boost their firm back in the UK.
Eighteen cutting-edge companies – two finalists from each of the nine UK regions – will then be given access to £5 million loan finance from HSBC and a grant worth £100,000 (£200,000 for one lucky national winner) to put their innovative ideas into practice.
The competition is open to all UK businesses that have been trading for a minimum of two years and have an annual turnover in excess of £2 million.
Explaining the idea behind including the overseas visits as part of the competition, Noel Quinn, head of commercial banking at HSBC, said:
“What we are trying to do is help UK businesses realise the potential that exists in the broad market, the world, rather than just the UK market.”
He claimed the Thought Exchange trips – to be held later this year – would help firms looking to enter new markets to “find out what works and what doesn’t”.
Mr Quinn revealed:
“For example, it might be that they learn something in Mexico that’s nothing to do with international markets. It’s a new idea that they can apply to the UK market.”
Entries to the competition must be made online by 25 June.
For further information about the competition, visit HSBC’s dedicated Business Thinking 2010 website
Source: Daily Telegraph 27/04/2010
Post new comment