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The original item was published from 4/13/2022 2:36:36 PM to 5/10/2022 12:00:01 AM.

News Flash

Marketing & Communications

Posted on: April 13, 2022

[ARCHIVED] Small Business Plan Competition Deadline Extended; Information Meetings Scheduled

The city has extended until May 9 the deadline for participating in the city’s annual Small Business Plan Competition and is holding virtual information sessions Tuesday, April 19, at 10 a.m. and 6 p.m. on Zoom.

Residents interested in participating can receive an invitation to the meeting by sending an email to Steven Harrison.

The Office of Business Inclusion and Advancement sponsors the annual competition to promote job creation and small businesses by helping entrepreneurs develop sound business plans. The two winners will each receive a $5,000 grant for start-up costs, up to $5,000 in a potential matching micro-loan and technical assistance.

Eligible submissions must be for micro-businesses (five employees or less) located within the Neighborhood Revitalization Strategy Area. This area includes portions of the northern, southern and eastern quadrants of the city. The businesses must also create low- to moderate-income jobs or benefit low- to moderate-income residents. Staff from the office’s Business Development Division will provide assistance throughout the competition.

Executive summaries and business descriptions must be submitted by May 9. All submissions will be reviewed and the top finalists will have the opportunity to submit completed business plans in June. The finalists will be judged by the Small Business Loan Committee and the winner announced in August.

All participants will receive guidance on how to improve their business plans and will be eligible to apply for small business loans.

Find more information here, or call Steven Harrison at 336-747-7474.

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