When small businesses chart their growth plans via a business plan, it can have a positive impact on their bottom line. Since 2011, the annual Fort Worth Business Plan Competition engages 30 select small business in a collaborative formal business plan competition. At the end of the competition, the first, second, and third place winners share a prize package collectively totaling over $50,000 in cash and business services.
After undergoing a competitive selection process, participants attend six weeks of one-on-one business counseling, professional development workshops, and coaching from industry experts through the Office of Small Business and its many partners, as well as consultation from student coaches at Texas Christian University and the University of Texas at Arlington.
The goal: Learn as much as possible to create a comprehensive business plan that impresses the judges, in order to win cash prizes and business services that will help entrepreneurs take their companies to the next level.
The Fort Worth Business Plan Competition encourages small business owners to manage and operate their business according to a written business plan, which has a positive impact on their bottom line and strengthens their ability to generate revenue and create jobs - both of which make a positive impact on the community.
By the end of the competition, participants will have the tools, the strategy, and the mindset to grow their seed of an idea into a flourishing business. It also anchors their roots in a passionate, supportive community of like-minded individuals, mentors, and movers-and-shakers, all well-versed in the area’s business ecosystem and all committed to helping these small businesses grow to their fullest potential.