HSBC has launched a brand new Business Growth Grant competition. If your business has a turnover of between £100,000 and £2m and you are looking to grow and expand then this could be for you.
You need to demonstrate how the grant will help you boost your business, either here in the UK or overseas.
The total grant pot of £200,000 is available, and up to four grants worth £50,000 each will be awarded. The deadline to apply is 31 December 2011.
Up to two of the grants are domestic growth grants that will be awarded to businesses that want to take their UK operations to the next level; this might be because you have got a fantastic business model that you 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.
A further 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.
So, who can apply?
Businesses that are eligible to enter the competition for the HSBC Business Growth Grant are those that:
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are UK-based (includes Northern Ireland and excludes the Channel Islands and Isle of Man)
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have been trading for 12 months or longer
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have a minimum turnover of £100,000 and a maximum turnover of £2m per annum
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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, download an application pack (you can apply online also) and terms and conditions.
After the 31 December 2011 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.
The winners will be announced by 31 March 2012.
So what are you waiting for, Act now to get your application in before the 31 December 2011 deadline.
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Accountant
3 months ago
Wow!! great grand competition introduced by the HSBC into the market its really a great opportunity for those businesses whose has such turnover to grow more their business in a secure way through HSBC. As we all know that what repute HSBC contains in the market and how secure is it. But don’t forget to have a advice with your financial Accountant.