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EDC Participates in Student Business Plan Review

Apr 9, 2013

Contact: Lisa Fultz
Director of Small, Minority & Entrepreneurial Division
Martinsville-Henry County Economic Development Corporation

                   EDC Participates in Student Business Plan Review

Martinsville, VA (April 9, 2013) - The Martinsville-Henry County Economic Development Corporation assisted students with preparation for the Business Expo 2013 to be held in April. Lisa Fultz, Director of EDC's Small, Minority, and Entrepreneurial Division was invited to critique business plan presentations prepared by students in Ms. Teresa Harkness' Business Management class at Magna Vista High School.

The purpose of the project was for students to explore the possibility of being a business owner and the many elements necessary to run a successful business. Over the past two months, students were required to write a professional business plan and prepare an oral presentation. The plans were to include a detailed business description, marketing analysis and financing components.

Because of their background in working with small business owners, Fultz, along with local retired banker Carolyn Shough, were chosen to evaluate the project presentations and give feedback to the students.

Fultz said, "Encouraging the entrepreneurial spirit at such a young age also fosters critical thinking and confidence. These students did an excellent job and it wouldn't be surprising to see some of these plans come to fruition." Fultz added, "This was a great way for economic development to collaborate with education."

Class instructor Ms. Harkness was equally impressed with the presentations. ""The students worked for several weeks researching information needed to complete their business plans. The project was given a more "real-world" application when students had to present their plans to Ms. Fultz and Ms. Shough, representatives from the business world. This will also increase their presentation and communication skills when they conduct the expo. I am really proud of these young people!"," she said.

The students will make their final presentations at the Business Expo scheduled for April 10th.

Martinsville Virginia