10 Advance in City's Business Plan Competition

SAN ANGELO, TX – In an effort to promote business development in the community, the City of San Angelo is working together with Angelo State University to host a competition for proposed business plans. The competition has entered its second phase in which 10 of the 41 original competitors are competing for first place.

The competition allowed local business owners to submit business plans for new or existing businesses in the city. The event is coordinated by the ASU Small Business Development Center, The Business Factory and ASU’s College of Business. The 10 semifinalists will be required to submit a draft business plan that has an operations plan, a market and financial analysis, a sales strategy and a management profile by March 27.

Those selected from that round will be required to submit a final business plan, which will be due by April 17. The winner will be announced on April 26 and win up to $25,000. Second and third place winners will be awarded $20,000 and $15,000. The prize money is being provided by the City of San Angelo Development Corp.

Competitors are aided and advised by the staff at the Angelo State University Small Business Development Center and students from the ASU College of Business. Winners of the competition may also be eligible to apply for The Business Factory incubator program.