Business plan competition 2021 opens to local entrepreneurs in San Angelo

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Courtesy of City of San Angelo:

San Angelo, Texas (May 3)- The sixth annual San Angelo Business Plan Competition is in progress, where the competition will offer $70,000 in cash prizes. The competition is open to anyone who wants to develop a new business or expand their current business here in San Angelo.

Prizes are listed below for the following placement in the competiton:

⦁ First place: $40,000
⦁ Second place: $20,000
⦁ Third place: $10,000

A business plan is a comprehensive document that illustrates details on a specific business idea. In your business plan, you should convey the vision of the market and what opportunities could result from it. Also, a business plan serves as the initial foundation of the proposed business. In addition, having a layout of your reasoned business will help it come together as a whole.

Angelo State University’s Small Business Development Center (SBDC) and ASU Norris-Vincent College of Business students are thrilled to help anyone who needs assistance with their drafting business plans.

The business competition will be conducted in three phases:

Phase 1: Business Overview *Due by 5 p.m. Aug. 2
Phase 2: Draft Business Plan *Due by 5 p.m. Oct. 11
Phase 3: Final Business Plan and Presentation *Due by 5 p.m. Nov. 8

The finalists selected will submit a final business plan, along with a presentation in front of a panel of judges. Winners will be announced on November 17, 2021.

More information can be found by visiting angelo.edu/business-plan-competition or the SBDC offices in the Business Resource Center, 69 N. Chadbourne St., calling the SBDC at 325-942-2098 or emailing nora.nevarez@cosatx.us  for further questions.

The winners may also recieve kind rewards and become eligible to apply for the Business Factory incubator program. The cash prizes are being funded by the City of San Angelo Development Corporation (COSADC), which administers the half-cent sales tax for economic development.

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