1. It helps secure financing by
demonstrating technical competence, market knowledge, and
organizational ability.
2. It is a valuable management tool
to help establish goals, to identify risks, to recognize
financial and physical needs, and to provide a benchmark for
evaluation of performance.
1. Any individual, 18 years or older,
who is a resident of the Twin Ports and surrounding communities.
2. For profit business only.
3. The competition is open to any
existing business that is planning to implement a different
aspect of and/or expansion of their business.
4. The criterion for evaluation will
be the feasibility of the plan. The winner(s) will exhibit the
most promising combination of job creation, growth potential,
actual implementation, product and market knowledge, and
financial feasibility.
5. The business plan may not exceed 40
pages of text and exhibits.
6. The author will retain all rights
to the plan regarding its use at all times prior to and
following the competition. A signed statement shall accompany
each submission indicating that the business plan is the
original work of the author.
7. The winner(s) will receive cash
awards to do further research and development.
8. If there are no plans that qualify,
in the opinion of the judges, an award will not be given. The
sponsoring organizations reserve the right to accept or reject
any business plan.
9. If the top winner initiates or
significantly expands his/her business within one year of the
award, he/she may become eligible for a zero-interest loan from
a participating financial institution. The business must be
located in Superior/Douglas County. 2nd place winner (if
applicable) is eligible for a $5,000.00 no-interest loan from
the Northeast Entrepreneur Fund.
