Regional finalists announced for HSBC’s £5m loan prize

SIX Midlands companies have been named as the regional finalists HSBC’s initiative to recognise the UK’s most innovative and forward-thinking companies.
 
Two of the six will each win up to £5m in lending, plus a financial reward of up to £100,000.

The six regional finalists include:

• China Industries Limited, Wolverhampton  
• Window Fab. & Fixing Supplies Ltd, Exhall, Coventry
• Mid Bass Distribution Ltd, Sutton Coldfield, West Midlands
• Pall-Ex Limited, Leicestershire  
• Abacus Lightning Limited, Sutton-in-Ashfield, Nottinghamshire
• Quadralene Limited, Derby

The six will now attend a ‘Thought Exchange’ visit to Turkey next week to meet like-minded business thinkers and consider business development opportunities in Europe.

Roy Harris, HSBC Regional Commercial Director for the Midlands said: “The calibre of entries made choosing the finalists an extremely tough decision, but we were pleased to see there are so many ambitious, innovative businesses in the Midlands. The six businesses that have been chosen as finalists are truly innovative, driven by strong management teams and with a real understanding the need to invest and look to the future to get ahead.

“We’re always encouraging our customers to look at potential opportunities overseas, particularly when the domestic market proves more challenging. The Thought Exchange trips will give each of these businesses a unique insight into the challenges and opportunities for British businesses in Europe as well as provide a forum for discussion on how businesses in the Midlands can continue to be successful now and in the future.”

Following their return from Turkey, the six regional finalists will take part in a second phase of the Business Thinking 2010 initiative which will see each of them present a refined business case based on insights gained on the Thought Exchange. Two winners in the Midlands will receive up to £5m in lending plus a financial reward of up to £100,000 each.

Finally, regional winners from across the UK will attend a gala event in Hong Kong, where the overall Business Thinking 2010 winner will be announced, receiving a further financial reward of up to £100,000.