What began as a competition with 50 participants in September is now down to these top 12 finalists. The 12 finalists in the 4th Annual Business Plan Competition:
Budding entrepreneurs approach the department weekly for assistance in writing business plans and the steps involved in starting a business. In an effort to broaden our reach, the department will host its fourth Business Plan Contest.
If you could not make it, the updated information below reflects what was covered.
Each of the two winners will receive: To be eligible for the contest, submissions must be for for-profit micro-businesses 5 employees or less and be located within the NRSA Neighborhood Revitalization Strategy Area.
Timeline for the contest Tuesday, February Informational kick-off meeting. Only typed documents accepted. Include a completed Business Plan Contest Application with your submission. Staff will also be happy to continue providing technical assistance.
While a complete business plan contains detailed information on the topics below, the purpose of the Business Proposal is to capture the interest of the reader and cover the highlights of your proposed business concept.
Your Business Proposal should cover the following highlights of your concept: Business Idea - Describe your business concept clearly and concisely Competitive Advantage - Describe how your produce or service differs from the competition Team Members - Describe the job roles of key members of your business team Target Market - Describe the intended market for your product or service demographic, geographic, etc.The Commission promotes and encourages competition by preventing restrictive business practices and other restrictions that deter the efficient operation of markets, thereby enhancing the welfare of the consumers in the Common Market, and protecting consumers against offensive conduct by .
To use your business plan to grow 30% faster than the competition, you need to track your actual results - the sales that you get and the expenses that you incur - against the goals that you set out for yourself in your plan.
Business Plan Presentation During the Saturday morning sessions, three teams will participate in each of four tracks of the Business Plan Presentation competition.
Conducted simultaneously, the four tracks will include 15 minutes for each presentation followed by up to 15 minutes of Q & A from the judges. The Federal Trade Commission is the nation's consumer protection agency and one of the government agencies responsible for keeping competition among businesses strong.
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Having a cohesive business plan is one of the first steps in starting a business, but it can be a daunting task.
Entering a business plan competition and possibly winning cash prizes for your business idea, and having mentors to guide you through the process, can keep your motivation at an all-time high .