GREENE COUNTY BUSINESS PLAN COMPETITION

The 1st ANNUAL GREENE COUNTY BUSINESS PLAN COMPETITION
"Creating the business owners of tomorrow by fostering ideas today"

Recently, Greene County was selected as a pilot community for the Home Town Competitiveness initiative in Indiana, which is modeled after the highly successful program from Nebraska. One of the four "pillars" is "Youth," while a second pillar is "Entrepreneurship". Inspired by these, the 1st ANNUAL GREENE COUNTY BUSINESS PLAN COMPETITION will help to uncover Greene County's most promising entrepreneurs.

The contest is open to any legal, U.S. residents with a plan to operate a business within or based from Greene County, Indiana. The mission of this start-up business plan contest is to encourage entrepreneurs in the creation, start-up, and early-growth stages of local businesses in Greene County, which will have a positive effect on those aged 1 to 35 in our community. For this competition, a "start-up business" is defined as a new business within the community, not having generated any sales to date.

So, do you have an outstanding business idea? If so, you may be eligible to compete for recognition and prizes in the 1st ANNUAL GREENE COUNTY BUSINESS PLAN COMPETITION. Participants have the chance to win prizes, including valuable products and services that will help them launch their businesses, although there is no obligation for winners to implement their plan. More importantly, the winner(s) will be featured in publications and introduced to local groups for feedback and potential networking opportunities with established businesspeople.

The deadline for submissions is October 15th, 2008. Entrants must complete a business plan, along with submitting the name(s) and contact information of an attorney, accountant, banker, teacher, potential investor, or business person, who has helped, discussed, or advised them on the business plan in some way. No set form or style of business plan is required; however, the plan MUST address the following categories, and each will be judged for perceived viability, clarity, and conciseness by a special panel of judges:

Operations: Describe the business in sufficient detail to allow the reader to understand what product or service the proposed company will provide, what goal(s) the company intends to achieve, and what skills and resources will be needed. Entries may include non-profit or for-profit entities. Each plan should seek methods for the company to be self-sustaining within three to five years of starting.

Sales & Marketing: Describe how the company will market and sell its products or services, along with the anticipated costs associated with the plan. This may include descriptions of various media, strategies, pricing and product placement to be used, as well as special audiences or market niches, if any.

Financing: Describe the company's start-up and operating costs used for the first year, how much total capital will be needed, and how these specific monetary needs will be funded. The proposed business should require not more than $100,000 total to begin, whether through debt, equity, or a combination thereof.

Local Impact: Describe how this company will positively affect the local economy and its way of life. Although would-be entrepreneurs in any industry may participate, the business may not promote, sell, or use any product or service, which is adult-oriented, including but limited to tobacco, alcohol, or gambling, among others. Businesses may not discriminate against any race, religion, gender, or other governmentally-protected group.

Youth Component: Although there is no age limits on participation in the business plan competition, participants must explain what positive impact or effects from the proposed business are expected on youth in the community. Describe how the company will employ, train, sell to, or purchase from those aged 1 to 35 in the local community.

Entries must be electronically submitted in Word or PDF formats to the GREENE COUNTY BUSINESS PLAN COMPETITION at gcbpc@yahoo.com All of the decisions made by a simple majority of the panel of judges are final.

Some helpful links:

http://www.htccommunity.org/
http://www.in.gov/ocra/2351.htm
http://www.isbdc.org/home.aspx
http://www.score.org/template_gallery.ht...

Some definitions & background info:
http://en.wikipedia.org/wiki/Non-profit
http://en.wikipedia.org/wiki/Marketing
http://en.wikipedia.org/wiki/Niche_market
http://en.wikipedia.org/wiki/Capital_%28finance%29
http://en.wikipedia.org/wiki/Shareholder...

The competition has been endorsed by the Greene County Chamber of Commerce Coalition, the Greene County Economic Development Corporation, the Community Learning Center, and the Bloomfield & Linton Rotary Clubs.

Business sponsors include: the Greene County Daily World, Poseidon Graphics, Kegan's Kandy Web Services, and Linton Office Leasing, LLC.

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This blog post by Chris Wathen was also published in his Linton, Indiana based Greene County Daily World blog entitled, "Riddle Me This".