Small business owners can get a boost to planned business expansion efforts through the second annual Poised for Growth Business Plan Competition. The competition is offered through the Illinois Small Business Development Centers (SBDC) at Waubonsee Community College and Elgin Community College.
The winning plan could win a top prize of $10,000, plus a consulting engagement valued at $5,000.
Applications are being accepted now through March 13, and plans can be submitted through May 6. The top eight business plans will compete in a final presentation to a panel of judges on June 21. Entrants will be judged on the business owner’s ability to convey a clear and convincing approach to expanding the business over the next three years.
To be eligible, business owners must have headquarters in Illinois, in business for three years or longer, classified as a “for profit,” have fewer than 500 employees and $16 million in revenue, proof of a valid and current business entity designation and licensing if applicable, and be available to present to the judging panel on the final pitch date.
Free, optional workshops will be offered to review the business plan and presentation formats and guidelines.
For more information about the dates and times of the workshops or to sign up, contact the Illinois SBDC at Elgin Community College or Waubonsee:
At Elgin, Sybil Edge, sege@elgin.edu, (847) 214-7488;
At Waubonsee, Harriet Parker, hparker@waubonsee.edu, (630) 906-4143.
