Business plan competition accepting applications

Business plan competition accepting applications

September 7, 2016

Martinsville, VA (September 7, 2016) - Local entrepreneurs have a chance to compete for funding, space and mentoring through the Small Business Investment Forum (SBIF) business plan competition. The competition is now open and will accept applications through October 14th.

The competition consists of two rounds, with Round One being the review of each applicant's business plan by a panel of judges. Round Two of the competition begins after the judges select the best business plans of those submitted. Those selected will appear for an oral presentation. Judges will then select final winners and mentor them over the next year.

Interested applicants must be located in Martinsville or Henry County and be a for-profit start-up or a business in operation less than three years as of the application deadline, October 14th.

Last year’s winners included Gotcha Covered Linens & Rentals, Happy Feet Early Learning & Child Center, and Infinity Dancewear.

Stacey Davis, owner of Infinity Dancewear said “the funding award received from SBIF was one of the final steps I needed to get my dream business off the ground. I’m excited and look forward to serving the dance community!”

SBIF grants have been for a variety of uses. In the past, awards have been allocated to purchasing equipment, inventory, training courses, building repairs, professional mentorship and more.

Gotcha Covered co-owners David and Rebecca Watson agree that “the mentorship has been just as valuable as the equipment we were awarded. As first-time business owners, it was nice to have a team of professionals to help provide guidance.”

Since its launch in 2008, the SBIF has awarded over $75,000 in cash and in-kind services with the goal of encouraging small business development and job creation in the area.

Mentors and contributing partners to this year’ competition include City of Martinsville, Patrick Henry Community College,MHC Chamber of Commerce, HD Web Studio, West Piedmont Business Development Center and the MHC EDC Small Business Division.

Applications for the Small Business Investment Forum are only being accepted online at Questions may be directed to 276-403-5940.


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