SAN ANGELO, Texas (Concho Valley Homepage) — Registration for the 2023 San Angelo Business Plan Competition is open until August 21, 2023. Senora Scott talked to Dezaray Johnson and Nora Nevarez of the Angelo State University Small Business Development Center about the competition and how entrepreneurs and aspiring entrepreneurs can sign up to win up to $40,000 to start or expand their small businesses.
The San Angelo Business Plan Competition 2023 is a two-phase business plan competition with a cash grant prize as well as in-kind prizes donated by local businesses. Entry is now open and requires business owners to submit only a Business Overview application. The deadline to enter is August 21, at 5 pm Application available online at www.angelo.edu/bpc.
By competing for cash and in-kind prizes, participants not only have a chance to walk away with funds, but everyone who enters will receive valuable knowledge through working with ASU Small Business Development Center Certified Business Advisors.
“The Business Plan Competition has impacted many local businesses – even ones that didn’t win. We are so excited to help the 2023 contestants develop their business plans and have an opportunity to receive funds as well,” said Dezaray Johnson, director of the ASU Small Business Development Center.
Assistance for Contestants
A common misconception about the business plan competition is that contestants must create their own business plan. However, the SBDC offers one-on-one, no-cost, and confidential assistance in preparing a Business Overview (Phase I) and Business Plan Presentation (Phase II) for all business owners. SBDC certified business advisors will work with
contestants on developing their business overview, their business plan and assumptions, and their business presentation if they are selected to proceed. A graduate accounting student team class from the Norris-Vincent College of Business (NVCOB) will work under the SBDC advisors assisting contestants during Phase II.
“Our team is ready, willing, and able to help every business that is eligible to enter. Aside from one-on-one assistance, the SBDC will also provide a free workshop on how to develop a business plan and the business elements that need to be addressed in the plan presentations,” said Dezaray Johnson, director of the ASU SBDC. The workshop will be held in the Business Resource Center (BRC) Training Room located at 69 N. Chadbourne St. in San Angelo, day and time to be determined.
Eligibility Requirements
Any individual or a multi-person team (up to four contestants per team) is welcome to enter the competition if they meet the following eligibility requirements. In Phase I, contestants must submit the Business Overview application online. If selected, contestants will move forward and create a business plan, financial projections with assumptions, and a business plan presentation and present their plan in person to the judging panel.
Contestants must be in the startup phase (two years or less) or be an established existing business. Business ideas or concepts are not eligible. They must be legally formed at the county level or at the state level. Contestants must be incurring business revenue and business costs at the time of entry in the competition. Businesses must be in San Angelo or its ETJ1 to be eligible for an award.
Prizes Available
The Competition Officials may award up to $40,000 in a cash grant for first place, $20,000 in a cash grant for second place, and $10,000 in a cash grant for third place, as well as in-kind services donated by local businesses worth thousands of dollars in total.
For more on contest rules, eligibility, and how to enter:
angelo.edu/bpc