WS Chronicle

The city of Winston-Salem is holding its Small Business Plan Competition again in 2018, and will kick it off with an information meeting for entrepreneurs interested in participating on Tuesday, Feb. 20 at 6 p.m. in the Committee Room of the City Hall Building, 101 N. Main St.

The Office of Business Inclusion and Advancement is sponsoring the competition to promote job creation and small businesses by helping entrepreneurs develop sound business plans. The two winners will each receive a $5,000 grant for start-up costs, up to $5,000 in a potential matching micro-loan, and technical assistance.

Eligible submissions must be for micro-businesses (five employees or less) located within the Neighborhood Revitalization Strategy Area. The businesses must also create low- to moderate-income jobs or benefit low- to moderate-income residents. Staff from the department’s Business Development Division will be available to provide assistance throughout the competition.

Following the information session on Feb. 20, two-page executive summaries and business descriptions must be submitted by March 16. All submittals will be reviewed and the top finalists will have the opportunity to submit completed business plans in May. The finalists will be judged by the Small Business Loan Committee and the winner announced in July.

More information is available at CityofWS.org/business, or call Steven Harrison at (336) 747-7474.