HSBC Business Growth Grant Competition Launched

Coverage: Blackburn with Darwen, Blackpool, Burnley, Chorley, Fylde, Hyndburn, Lancaster, Pendle, Pennine Lancashire, Preston, Ribble Valley, Rossendale, South Ribble, West Lancashire, Wyre,

Finance Type: Business Expansion, Capital Investment,

Businesses with annual turnovers of between £100,000 and £2m with ambitions for growth could win one of HSBC’s new grants.

HSBC has launched its brand-new Business Growth Grant competition, to support motivated business owners and entrepreneurs across the UK looking to expand. All they need to do is demonstrate how the grant will help them boost their operation, either in the UK or by trading overseas.

A total grant pot of £200,000 is available, and up to four grants worth £50,000 each, will be awarded.

Applications are being accepted until 31 December 2011.

Ambitions to expand

Up to two of the grants are essentially domestic growth grants that will be awarded to businesses that want to take their UK operations to the next level; this might be because they’ve got a fantastic business model that they want to grow organically, such as opening more outlets or increasing production. Alternatively, it could be a business with plans to take over another business that could support their supply chain, for example.

Up to two grants are for entrepreneurs with overseas ambitions. These will go to businesses that have either been successful in the UK but perhaps now have their eyes on overseas trade for the first time, or businesses that already focus on overseas trade but have aspirations to expand or enter other countries.

Who can apply?

Businesses that are eligible to enter the competition for the HSBC Business Growth Grant are those that:

- are UK-based (includes Northern Ireland and excludes the Channel Islands and Isle of Man)
- have been trading for 12 months or longer
- have a minimum turnover of £100,000 and a maximum turnover of £2m per annum
- can provide profit and loss and balance sheet information for 12 months or longer and projected financial information for a minimum of two years

Visit www.hsbc.co.uk/businessgrant – for full details and terms and conditions.

If your business is eligible, you can download an application form from the HSBC Business Growth Grant website. You’ll need to answer some straightforward questions about the financial aspects of your business, as well as queries about your business thinking and your strategies for growth. You can then submit the form online.

After the 31 December 2011 application deadline, The Judging Panel will select up to a maximum number of 5 entrants as finalists for each category.

The ten selected finalists will then be invited to visit HSBC’s headquarters in London in February 2012, where they will be asked to pitch their case to the judges and demonstrate how a grant could turn their forward thinking into business action.

The winners will be announced by 31 March 2012.

Act now to get your application in before the 31 December 2011 deadline.

It’s easy to apply:

1. Download the application online from the HSBC Business Growth Grant website
2. Fill in the application
3. Submit online

Funding:

Type of Funding: Grant

Project Timeframe - Expiry Date: Thursday 11th December 2031

Eligibility:

Disclaimer: The information above was accurate at the time of publishing. This is a constantly evolving directory and we will amend the details as and when required. Regenerate Pennine Lancashire is not responsible for the accuracy of external information.

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