The City of Fort Worth and Capital One Bank are looking for businesses to compete for more than $50,000 in cash and in-kind services as part of the eighth annual Business Plan Competition.
Participants will be judged on how well they develop a business plan, or enhance an existing plan, to reflect improvement in their market competitiveness and increase their bottom line.
The competition is a partnership between the city’s Office of Small Business and United Way of Tarrant Countys “Kernel Live!” program, which fosters social innovation in Tarrant County and provides resources and seed funding for organizations and programs that combine social impact with a sustainable revenue model and an innovative approach to solving challenges in the community. This partnership allows participants to receive the benefits of both competitions while also receiving business plan training at the Business Assistance Center.
Capital One is the presenting sponsor of the competition.
How to apply
Applicants must be a business with a DBA registered in Tarrant County, and must have an annual revenue of less than $500,000.
Those interested can register for the Business Plan Competition online. Applications for this year’s competition are due by June 15.
Once all entries are received, 25 businesses will be selected and provided with five weeks of group training. Additional resources from the BAC will be available, such as one-on-one counseling, professional development workshops and coaching from industry experts. These resources will be provided through the BAC’s partnerships with Tarrant Small Business Development Center, SCORE, and the business colleges at TCU and the University of Texas at Arlington.
Final business plans will be due Sept. 10, and 10 businesses will be selected from this round to compete in front of judges during a Pitch Night on Oct. 11. The top three finalists will compete Oct. 25 for the prize packages, which include $10,000 cash for first place, $5,000 for second place and $3,000 for third place. Additionally, numerous businesses have donated in-kind services for the three finalists.
More information about competition details is available on the Business Plan Competition website.
About the competition
The Business Plan Competition was founded in 2011 as a partnership between the City of Fort Worth’s Office of Small Business, Capital One Bank, the Alternative Board and the Business Assistance Center. The competition encourages small-business owners to manage and operate their businesses according to a well-researched written plan, which will have a positive impact on their bottom line and strengthens their ability to generate revenue and create jobs.
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