San Angelo re-launching Business Plan Competition
The economic development partners housed in the City’s Business Resource Center are resurrecting a business plan competition that will award the winner $15,000 in cash plus in-kind products and services.
The San Angelo Business Plan Competition is open to entrepreneurs looking to launch local start-up businesses and existing business owners who are creating new ventures as separate entities. Advisers from the Angelo State University Small Business Development Center and students from the ASU College of Business will be available to guide and assist contestants in drafting their plans.
A business plan is a comprehensive document that provides an organized view of a specific business idea. Plans should reflect the vision of a market opportunity and serve as a blueprint for the development of the proposed business.
The competition will be conducted in three phases. In the first phase, a business overview that addresses market need for the proposed service or business, target customers, competitive advantages and revenue generation will be due by Feb. 2. Selected semi-finalists will submit a draft business plan that includes an operations plan, market and financial analyses, a sales strategy and a management profile by March 21. The final business plan will be due by April 18. Winners will be announced April 27.
Judges may also award a second-place prize of $10,000 cash plus in-kind rewards. Winners may also be eligible to apply for The Business Factory’s incubator program. The $25,000 in total cash prizes are being made available via a grant from the City of San Angelo Development Corp., which administers the half-cent sales tax for economic development.
The competition is being coordinated by the SBDC, The Business Factory and ASU’s College of Business. The competition was last conducted in 2009.
Economic Development Department
The City of San Angelo Economic Development Department serves as the economic development arm of the City of San Angelo Development Corporation (COSADC). The Vision/Mission statement of the City of San Angelo Economic Development Department is to serve the community as an organization comprised of highly trained professionals leveraging resources to diversify the economy, expand the tax base, foster business growth, and increase job opportunities.
Working with economic development partners, COSADC will retain, strengthen and diversify the job base of the community to ensure a vibrant business climate for San Angelo and the region.
Since its inception in 1999, the COSADC has been diligent in its allocation of half-cent sales tax funds to promote economic growth and sustainability for San Angelo and the region. Through job creation and retention, recruitment and expansion, special project funding and various other activities, the development corporation has concentrated its efforts toward improving opportunities and enhancing the lives of the citizens to grow a better San Angelo.
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Chamber of Commerce
Small Business Development Center
The Business Factory
Business Resource Center
Workforce Solutions of the Concho Valley
Downtown San Angelo, Inc.
Angelo State University
The Concho Valley Center for Entrepreneurial Development