Following on from HSBC’s £4 billion International SME Fund, a new initiative is being launched in the UK. Global Connections is to encourage SMEs in the Midlands to expand across the globe with international trade and business partnerships with funding worth £60 million. HSBC previously hosted the Thought Exchange trips which brought together business minds from across the world to exchange business ideas and promote growth.
Interested businesses have until 13th July to submit their applications for a chance to be awarded a share of the funding. Ten finalists will be chosen to attend an International Exchange in either the UAE or the USA. The idea is that businesses will connect with each other and hopefully grow together with each others help.
HSBC have said they are seeking businesses that are forward thinking and ambitious and that can put their thoughts into action. HSBC’s Midlands Regional Commercial Director, Roy Harris said that they want to help businesses compete at the forefront of international trade. The campaign has focused on the Midlands because HSBC believe it is home to many firms with the qualities they are looking for.
It is hoped firms will be encouraged to grow even in the current economic climate. All ten Global Connection finalists, once they are back in the UK, will be given the chance to sell their pitch using the experience and information picked up on the International Exchange. The final winner will receive an award of up to £240,000.