2019 business plan competition offers $2,500 grand prize

To The Press

Want your own business? Start by making a plan.

The Charles City Area Development Corp. board of directors has announced its 2019 business plan contest. The winning business plan will be awarded a $2,500 prize to help make those business dreams a reality.

“We celebrate entrepreneurship and innovation and are soliciting business plans in encouraging entrepreneurs, whether they have business ideas, start-ups or early stage ventures” said Tim Fox, CCADC executive director.

Residents of Floyd County and Nashua who are seeking to start a business or enter a new phase in an existing business are eligible to enter. The entry deadline is June 30.

CCADC President Paul Coonrod said, “We seek to be inclusive of all types of business starts and will provide more assistance than a mere business plan review.”

CCADC staff and directors will be available to work with applicants in devising their business plan, “including critical review,” Coonrod said. In addition CCADC works with local professionals to provide in-kind services for entrepreneurs relating to the professional’s area of expertise.

An applicant’s initial step should be to contact Tim Fox at the CCADC office at 401 N. Main St., Charles City, or by calling 641-228-3020, extension 13, or by email to tfox@charlescityia.com.

Fox will provide the list of required business plan components as well as mutually formulate an action plan.

“We seek to nurture a new or early stage business from the ground up” said Coonrod. Applicants will have the opportunity to set progress milestones with CCADC staff to ensure the best possible product by the 30 June deadline.

The $2,500 grand prize will be awarded in July.

Beyond the business plan process, entrepreneurs can get professional expertise from the community as they implement actions depicted in their business plan.

These typically include access to capital, marketing and identification of legal structure, operations plan and financial planning.

For more information call 641-228-3020 and consult with CCADC staff.