Once a year, local entrepreneurs will have a chance to compete for funding, space and mentoring through the Small Business Investment Forum (SBIF) business plan competition.
Contributing partners to the 2016 competition included: City of Martinsville, Patrick Henry Community College, MHC Chamber of Commerce, HD Web Studio, West Piedmont Business Development Center and the MHC EDC Small Business Division.
The competition consists of two rounds, with Round One being the review of each applicant's business plan by a panel of judges. Round Two of the competition begins after the judges select the best business plans. Those selected will appear for an oral presentation. Judges will then select final winners and mentor them over the next year.
Happy Feet Early Learning and Child Center is a two-time winner of the competition. “The award from SBIF will help my business tremendously. Keeping up with financials and continued marketing are crucial pieces as I try to maintain and grow the daycare,” said owner Shirley Williams.
Stacey Davis is thrilled to have opened Infinity Dancewear. “The funding award received from SBIF was one of the final steps I needed to get my dream business off the ground. I’m excited and look forward to serving the dance community!”
Gotcha Covered co-owners David and Rebecca Watson agree that “the mentorship will be just as valuable as the equipment awarded. As first-time business owners, it is nice to have a team of professionals to help provide guidance.”
Since its launch in 2008, the SBIF has awarded 20 businesses over $73,000 in funding and services. Click here to view details on the 2015 winners.
Interested applicants must be located in Martinsville or Henry County and be a for-profit start-up or a business in operation less than three years as of the application deadline.
The deadline to enter was October 14th. Applications are no longer being accepted.
All submissions should include (at the very least):
- Application Form
- A Detailed Business Plan
- Financial Projections/Cash Flow
Template examples are available below: