Small Business Plan Competition in the Winston-Salem area

The Community and Business Development Department is highly devoted to promoting the growth of business enterprises in the Winston-Salem area. Numerous entrepreneurs approach the department weekly for assistance in writing business plans and starting businesses. In an effort to reach more individuals, the department will be hosting a Small Business Plan Competition this spring. The goal of the competition is to provide seed money to help more entrepreneurs get their business ideas to fruition.

The winner of the competition will win:

  • $5,000 grant for startup costs
  • $5,000 potential matching micro-loan
  • Free Change of Use Review (valued at $250) by the Inspections Division to evaluate what changes and expenses are needed to bring a proposed business location into building and safety code compliance
  • Opportunity to apply to Small Business Loan Program

Timeline for the competition

  • Tuesday, January 15 – an informational meeting to discuss the business plan competition will be held at 6:00 p.m. in the 5th floor conference room of the Bryce Stuart Municipal Building located at 100 E. First Street in downtown Winston-Salem.
  • Friday, February 15 – executive summaries and business descriptions are due. Judges will review the submittals and select the top finalists that will go to the final round. Information can be dropped off in the Community and Business Development Department office located on the fourth floor of the Bryce Stewart Municipal Building.
  • Wednesday, May 15 – final draft business plans are due for evaluation by the Small Business Loan Committee.
  • Early July- a winner of the competition will be announced.

If you are interested in joining or learning more about the Micro-Enterprise Business Loan Competition, please contact Ruben Gonzales, Business Development Supervisor, at (336)747-7474 or rubeng@cityofws.org.

Read more here.