Pictured above: HSBC Area Commercial Director Adrian Gill,
Roy Harris HSBC Regional Commercial Director, Richard North MD Wow!
Stuff and Adrian L'Enfant HSBC International Commercial
Manager
Richard North, Managing Director of Wow! Stuff, the
Wolverhampton-based toy developer and manufacturer, and overall
national winner of HSBC's 2010 Business Thinking initiative, was
today presented with part of the company's reward, a cheque for
£202,300.
Richard joined an event hosted by HSBC's Birmingham commercial
banking team in Birmingham, which was attended by over 50 business
representatives from across the region, to discuss the benefits of
taking part in this years Business Thinking initiative.
By entering, thinking businesses across the Midlands have the
opportunity to 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.
Speaking at the Birmingham event, Richard North, Managing
Director of Wow! Stuff, commented: "I urge anyone who thinks their
time may be better spent only on their current business activities
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.
"One of the most significant aspects of taking part in Business
Thinking 2010 was the education it provided, enabling us to
understand how to develop international trading relationships and
also to visit overseas markets to gain a real appreciation. 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, this year's 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.
Adrian Gill, Area Commercial Director at HSBC Birmingham said:
"We were blown away by the calibre of entrants of Business Thinking
2010 and were particularly delighted that a business from our
region went on to win the overall award. From the level of
enquiries we are receiving about the 2011 Business Thinking
initiative, it is clear that Wow! Stuff's success is inspiring
other companies in the Midlands to consider entering."
Adrian Gill adds: "The initiative is not simply about the
businesses being awarded funding to achieve their business plans,
the insight and knowledge the businesses gain from other business
leaders, and from peers both in the UK and beyond also adds a great
deal of value."
Business Thinking 2011 has three phases of reward for successful
entrants:
• Phase one: Up to 54 companies across the UK will 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.
Closing date for entries is 10 June 2011. Full terms and
conditions are available on the website.