Business Plan Competitions

Business plan competitions are often hosted by public libraries, universities, corporations, incubators and other organizations and award cash to the winning business plan(s). For entrepreneurs just starting out, this can be a great way to jumpstart your venture.

Pros:

  • Helps hone your idea and build contacts
  • Some contests come with mentoring as well as money

Cons:

  • Typically small amounts
  • Competitions may be time-consuming and there’s no guarantee you’ll win 

Resources:

Find a B-plan competition: http://www.bizplancompetitions.com/

For help writing a business plan, check out your local SCORE center https://www.score.org/