Wow! Stuff, a toy, gadget and gift developer and manufacturer, and overall national winner of HSBC's 2010 Business Thinking initiative, is today urging companies across the Midlands to enter Business Thinking.

By entering, thinking businesses across the Midlands could be awarded a share in £108 million worth of funding, a financial reward of up to £120,000 each and be invited to take part in an overseas Thought Exchange Trip for networking and business development, all courtesy of HSBC Commercial Banking.

Richard North, Managing Director of Wow! Stuff commented: "Thanks to Business Thinking, we've had our eyes opened to bigger opportunities that exist beyond our office, our current territories and even the industries we had become cocooned within  and accustomed to.

"As a result of winning Business Thinking 2010 we have a better understanding of international trade, and we know that breaking into new markets is the key to business growth. By the end of this year, Wow! Stuff will have doubled its sales and profitability, trading in 15 countries across the world, including Turkey which we visited on the Thought Exchange trip."

Recognising the value of the Thought Exchange trips to 2010 entrants, Business Thinking programme will again offer companies the opportunity to take part in Thought Exchange trips to one of the world's most dynamic areas of economic growth - Hong Kong, Brazil, New York, United Arab Emirates or Continental Europe.

Roy Harris, HSBC's Regional Commercial Director in the Midlands said: "We were blown away by the calibre of entrants of Business Thinking 2010 and we hope that Wow! Stuff's success will inspire other companies in the Midlands to consider entering the latest initiative.

"The real value of the initiative, beyond the winning entrants being awarded funding to achieve their business plans, is the insight and knowledge they will gain from business leaders, and from peers both in the UK and beyond."

Business Thinking has three phases of reward for successful entrants: 

Phase one: Up to 54 companies across the UK wiil be shortlisted as Regional Finalists. Each company selected from the Midlands will have the opportunity to participate in an international Thought Exchange, as a guest of HSBC, to one of the world's most dynamic areas of economic growth to meet like minded business thinkers and enjoy networking and business development opportunities.

Phase two: Regional Finalists will be invited to refine their business case to secure funding and a financial reward including the insights gained on the Thought Exchange to be judged by HSBC's panel of experts. Two Winners per region will then receive up to £6 million in lending plus a financial reward of up to £120,000 each (2% of their borrowing paid back.)

Phase three: One of the 18 Regional Winners will be crowned overall Business Thinking winner at an International Insights gala event in London in front of an international audience, and will see their financial reward doubled.

Businesses with turnovers of £2million or more can log onto www.hsbc.co.uk/businessthinking to find out more and put forward their vision and ambitions for the company, how its management team intends to achieve them and how the prize would help them succeed.

Mr North concludes: "I urge anyone who thinks their time is better spent on their business to reconsider. Make that step, fill in the forms, challenge yourself this year a little more than last. The recognition Wow! Stuff has achieved through winning Business Thinking 2010 has been invaluable and as a result we are expecting our business to grow exponentially over the next 12 months."

Closing date for entries is 10 June 2011. Full terms and conditions are available on the website.