BINGHAMTON — Entrepreneurs have a chance to win a $5,000 prize as the fourth-annual BLDC-EAP Business Plan Competition is under way.
The city of Binghamton, Binghamton Local Development Corporation (BLDC), and Broome Community College’s Broome Triad Entrepreneurial Assistance Program (EAP) sponsor the program, which awards the prize to the best plan for developing a business in the city of Binghamton.
“The BLDC-EAP Business Plan Competition is another way we’re encouraging entrepreneurs to take a stake in our increasingly dynamic local economy,” Binghamton Mayor Matthew Ryan said in a news release. “This competition helps grow our small business community by providing the winner not only with a cash prize but also helpful training for all those who are starting a company or are interested in doing so.”
The competition seeks to cultivate local business development, highlight BLDC financing programs, and raise awareness about community resources for small-business growth. Participation in the contest gives entrepreneurs access to training, networking, and start-up capital opportunities. New to this year’s competition is the addition of professional consultation with both the law firm of Levene Gouldin & Thompson, LLP and the accounting firm of Piaker & Lyons.
In order to be eligible, entrepreneurs must plan to base their business within the city limits, must have plans to start a business or have an existing business no more than five years old, and must have been a client of the EAP at some point since September 2005 or attend a free one-day workshop on business-plan development. The workshop is March 24 from 9 a.m. to 3 p.m. in room 201 of the Decker Building at Broome Community College. To register, call (607) 778-5012. Seating is limited to 40 people.
Contest participants must submit their application, and register for the workshop if necessary, by March 15. Contest organizers will announce the finalists on April 11. Finalists must submit a written business plan by May 24 and make oral presentations regarding their plans on June 19 or 20. Contest organizers will announce the winner on June 28.
For more information about the contest and an information packet, visit http://www.cityofbinghamton.com/viewarticle.asp?a=3728.
Contest judges will include three representatives from the BLDC and three from EAP with experience and expertise in entrepreneurship, finance, and business education. The BLDC provides the prize money from its marketing and outreach committee budget.