HSBC gives North West SMEs the chance to win £150,000 cash to support their growth ambitions

SMEs in the North West could be in with a chance of winning £150,000 cash from HSBC to help make their ambitions a reality in a major pitch competition.

The Elevator Pitch, which has been designed by HSBC to help UK businesses with a turnover of up to and including £10 million, asks businesses to explain in a 90-second pitch video how they would elevate their business with £150,000. The online competition is part of HSBC’s Elevator programme which also includes a series of talks and written guides to help businesses move to the next level.

HSBC is looking for innovative and exciting responses to the brief which could see them win the cash prize, as well as 10 hours of mentoring from business experts.

Chris Wormall, HSBC’s Head of Business Banking in the North, said: “SMEs are the lifeblood of the UK economy, employing some 15 million people with a combined turnover of £1.6 trillion. The Elevator Pitch could help these businesses fast-forward their growth plans, giving the winner the opportunity to make investments that may have been projected two or three years down the line. This kind of funding and support could open a lot of doors.”

Some of the ways North West SMEs might use the money include investing in staff training, developing new sales channels, delivering a one-off marketing campaign, incorporating new technology and IT systems or expanding into new markets.

To find out more about the competition and upload your business’s 90-second video, visit:

www.hsbc.co.uk/elevator

The closing date of 30 November 2015.

After careful review and shortlisting, 10 finalists will be announced in February 2016 and invited to attend a two-day masterclass where they will receive coaching and advice on how to hone and refine their business idea, before re-pitching to an expert panel. The winner will be announced towards the end of February.