Fort Worth Business Plan Competition
In 2011, the Fort Worth Business Assistance Center launched a new initiative, a business plan competition that gave special recognition to five outstanding small business owners and entrepreneurs in our community. Through a competitive selection process, the finalists were provided one-on-one business counseling, attended professional development workshops, and received coaching from industry experts through the Business Assistance Center and its many partners. They also received consultation from MBA student–coaches at TCU.
Our overall purpose in developing this business plan competition is to encourage small business owners to manage and operate their business according to a plan; thus, having a positive impact on their bottom line as well as strengthening their ability to generate revenue and create jobs…all of which have a positive impact on our economy as a whole.
The finalists shared their business plans in the hope of winning cash prizes and business services that could assist them in moving their companies to the next level. The BAC is focused on the success of all its clients and looks forward to the competition in 2013.
Find out more about the competition:
The 25 most qualified applicants that met the eligibility criteria competed in the first round, whereby participants attended two training sessions (financial and a presentation to prepare individuals to perfect their pitch to potential investors) and utilized other small business resources to enhance their business plan.
In October, the elimination round consisted of a review of each participant’s submitted business plan, and the top three candidates advanced to the final round. The competition will culminated November 15, 2012, with a final presentation and Q&A at TCU, and the winners will received a combination of cash prizes and professional business services.
The Fort Worth Business Assistance Center, Capital One Bank and The Alternative Board are looking for small businesses to compete for up to $50,000 in cash and in-kind business services by developing a new or enhanced business plan that can improve their market competitiveness and increase their bottom line.
The Fort Worth Business Plan Competition: Growing to the Next Level is open to any small business that meet the following criteria:
- Be a business based or headquartered in Tarrant County
- Annual revenue up to $500,000
- At least 6 months in operations
Prior BAC clients, regardless of geographic location, that meet the eligibility criteria may also apply. Ineligible applicants include past winners and finalists, City of Fort Worth employees, and not-for-profit organizations.
If your business is (1) on the cusp of expansion into the next phase of growth, (2) ready to launch a new service or product, (3) uniquely responsive to their customers and community, or (4) surviving but not thriving, you are invited to apply.
Twenty-five semi-finalists will be selected from all entries by a panel of industry experts. Three finalists will receive state-of-the-art business development consultation and have the opportunity to win first, second and third place cash prizes.
Every year since 1963, the President of the United States has proclaimed National Small Business Week to recognize the contributions of small businesses to the economic well-being of America. For the third year, the Fort Worth Business Assistance Center, in partnership with SCORE, Tarrant Small Business Development Center and Texas Christian University Neeley School of Business MBA Program, will recognize and reward the special impact made by outstanding entrepreneurs and small business owners in our community.