Guest column:Enter your business plan in this contest
Published 12:00 am Thursday, January 29, 2004
Pam Bishop, Greater Jobs
When more than 70 percent of all economic development occurs through the companies a community already has in its back yard, no matter what size community, it truly makes sense for a city like Albert Lea, rich in entrepreneurial heritage, to nurture the growth of budding companies.
That’s why last fall when 12 organizations came together to launch the start of an annual Business Plan Competition, we wanted to provide the entrepreneur with a learning experience and the possibility of receiving a monetary award of up to $45,000 to create and grow a new company in Albert Lea/Freeborn County.
So, if you are such an individual, either one who has a company less than two years old, or perhaps you simply have an idea for a company, we hope you will participate in this year’s Business Plan Competition. Simply put, the purpose of the competition is to identify new businesses in Albert Lea/Freeborn County or with the intent of relocating their business in the county. Entries will be judged on the following:
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Growth and job creation potential
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Actual implementation
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Product and market knowledge
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Financial feasibility and
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Personal interview.
The author will retain all rights to the business plan regarding its use at all times prior to and following the competition.
All business plans are due March 1, 2004. Should an individual need assistance in putting a business plan together, the Albert Lea Business Development Center has resources available to assist in the development of the plan.
Who knows your company may become the next Mrs. Gerry’s Kitchen, Minnesota Corrugated Box, Lou-Rich, Inc., Interstate Molding, Rofshus Precision Machine, Interstate Packaging, Superior Packaging, Safe Air Repair, Edwards Manufacturing, Alamco Wood Products, ALMCO, Vasco Repair, Albert Lea Public Warehouse, KleenTec, Exol, Daisy Blue Naturals, Aquila Corporation, WLW, Inglow Company, Buffalo Bills Bison Products, EI Systems or Cookie Sue.
We encourage you to pick up information on the Business Plan Competition at the ALBDC, 2610 Y.H. Hanson Ave., Northaire Industrial Park, Albert Lea, or go to one of our Web sites: www.greaterjobs.org, or www.albdc.com.
Finally, interested individuals can contact one of our sponsoring organizations for information or assistance: Albert Lea/Freeborn County Chamber of Commerce, City of Albert Lea, Albert Lea Medical Center, Americana National Bank, Citizens State Bank, Commerce Bank, Farmers State Bank, Home Federal Saving Bank, Produce State Bank, Security Bank Minnesota, US Bank and Wells Fargo.
(Pam Bishop is the executive vice president of Greater Jobs, Inc.)