To promote job creation and the development of small businesses, the Community and Business Development Department is sponsoring a Small Business Plan Competition designed to help entrepreneurs develop sound business plans. The winning business plan will receive a $5,000 grant for start-up costs and up to $5,000 in a matching micro-loan.
Eligible submissions must be for micro-businesses (five employees or less) located within the Neighborhood Revitalization Strategy Area. This area includes downtown and portions of the northern, southern and eastern quadrants of the city. Business plans must also create low- to moderate-income jobs or benefit low- to moderate-income residents. Staff from the department’s Business Development Division will be available to provide technical assistance throughout the competition.
An information meeting will be held at 6 p.m. Tuesday, Jan. 15 in Room 530 of the Stuart Municipal Building, 100 E. First St., Winston-Salem. Executive summaries and business descriptions must be submitted by Feb. 15. All submittals will be reviewed and the top finalists will have the opportunity to submit completed business plans by May 15. The finalists will be judged by the Small Business Loan Committee and the winner announced in July.
More information is available at www.Development.CityofWS.org, or call Ruben Gonzales at 747-7474.