$5000 Business Plan Competition Deadline Extended

Written by Theresa Rose on January 21, 2015

Entrepreneurs will have one last chance to compete this winter for the opportunity to win up to $5000 for their business startup or expansion through the 2015 Lee County Business Plan Competition. Iowa State University Extension and Outreach has extended the deadline for the competition to January 30, 2015 in hopes that more entrepreneurs will apply.

Participants in the competition will submit their business plans for either a new venture or a business expansion. The plans will be given to a panel of experienced judges, who will give critiques and select finalists. The finalists will then make a presentation in March on their plan in order to win the competition, and the award of up to $5000.

“The business plan competition will aid in jumpstarting local businesses in Lee County, which are a key component to stimulating economic growth in our area,” said Alex Merk, Director of Marketing and Operations with ISU Extension and Outreach in Lee County. According to Merk, even the entrepreneurs that do not win the competition will benefit from this process by receiving valuable feedback to improve their plans and make them more attractive to potential lenders.

Information on the competition rules can either be downloaded at www.extension.iastate.edu/lee/bizplancompetition or picked up at the Lee County Extension office, 414 North Main Street in Donnellson.

The competition is sponsored by a partnership between ISU Extension and Outreach in Lee County and Iowa Microloan, and is supported by a USDA Rural Business Opportunity Grant. The Fort Madison Area Chamber of Commerce and the Keokuk Area Chamber of Commerce are also supporting the competition by providing a one-year membership to the chamber of the winner’s choice.