The Yampa Valley Entrepreneurship Center at Colorado Mountain College is hosting the fifth annual Community Business Plan Competition for 2016. This program promotes effective planning for new business startups.
With a well-written plan, entrepreneurs have a better chance of finding funding, recruiting talented employees, addressing the needs of customers and solving operational challenges.
Past winners have included, Grasssticks, a bamboo ski pole manufacturer, Balance Rider, a patented equine training device, Nelson Colorado, an outdoor wear company and Mountain Pine Manufacturing.
As part of this competition, two free business plan-writing workshops will be offered on May 25 and June 15. Topics covered in these workshops include, identifying target markets, defining products or services as customer values, financial forecasts, operations, marketing and sales strategies.
To register for either workshop, call 970-870-4491.
The competition, sponsored by the city of Steamboat Springs, Alpine Bank and Colorado Mountain College, offers a first prize of $10,000 and a second prize of $5,000, plus other benefits.
Plans are due by Sept. 19. Finalists will present their business concept to a panel of judges from Yampa Valley SCORE in October.
For guidelines and rules, visit coloradomtn.edu/yvec.