Posted on January 20, 2022
After a two-year hiatus, the Fort Worth Business Plan Competition is back and putting local small businesses back in the spotlight.
The Fort Worth Business Plan Competition is a celebration of the entrepreneurial spirit that makes the city so unique. The pioneering spirit of Fort Worth small business owners inspires them to innovate across a variety of industries, and their work helps build and shape the character of one of the nation’s fastest growing cities.
The business plan competition is one of the ways the City of Fort Worth helps area small business owners succeed. Research shows that entrepreneurs who operate on the basis of a written plan improve their long-term ability to generate income and create jobs, and solid business plans are crucial when seeking investors and investors. other sources of funding.
After several weeks of workshops and coaching, participants will develop a comprehensive business plan that covers everything from market competitiveness to financial outlook, with the goal of learning their business inside and out. Then it’s time to put their skills to the test, as the competition culminates in a final pitch night with $18,000 in cash prizes on the line.
Small business owners can apply to participate in the Fort Worth Business Competition through the city’s website. Applications close at 11:59 p.m. on Sunday, January 30.
Eligible candidates must have been in business for two to five years, have a DBA or a registered business location within the city limits of Fort Worth, and have an annual income of less than $500,000.
Unlike previous years, the 2022 Business Plan Competition will offer cash-only finalist prizes, with $10,000 for first place winner, $5,000 for second place and $3,000 for third place.
Once all entries are received, contestants will participate in an open house to network with partners in the local entrepreneurial ecosystem and find out which are the top 20 companies moving forward with the competition’s business training sessions.
Final business plans will be expected in early April and the top 8 will take part in the competition final – an evening of pitching in front of a jury – on Thursday, May 5, as part of National Small Business Week.
Frost Bank is the co-sponsor of the Fort Worth Business Plan Competition. Coaching and professional development workshops will be provided by industry experts and partnerships with the Tarrant County Small Business Development Center, SCORE Fort Worth and several others.
Get articles like this delivered to your inbox. Subscribe to municipal news.