NATIONAL MINORITY BUSINESS COUNCIL, INC., ANNOUNCES BUSINESS PLAN COMPETITION AS PART OF ITS ENTREPRENEURSHIP BOOT CAMP

Prizes Include Monetary Awards and Free Consultations with Boot Camp Instructors

Winners will be identified at a special luncheon in January

FOR IMMEDIATE RELEASE

Contact: John F. Robinson, or

Fritz-Earle Mc Lymont

Tel.      : (212) 693-5050

E-mail : info@nmbcglobal.org


December 1, 2009 (NEW YORK) – The National Minority Business Council, Inc., announces a Business Plan Competition under its Entrepreneurship Boot Camp program for new, early-stage and seasoned entrepreneurs. The competition is open to members of the National Minority Business Council, and to other minority and women and veteran business owners.

“The NMBC decided to undertake this Business Plan Competition to help entrepreneurs fine-tune their business operations for survival and growth during these difficult economic times and beyond,” said John F. Robinson, the NMBC’s president and CEO. “Many people see the business plan only as an essential tool to get a new venture under way. However, it can be used by those beyond the startup stage to assess their business from the perspective of where they would like to be in the next five to ten years or more.”

Business plans submitted for the competition must be no more than 15 pages long, and must be submitted electronically to info@nmbcglobal.org no later than Friday, December 18. Submissions by any other means will not be accepted. Only the first 25 plans received will be considered. They will be judged by a panel of entrepreneurship experts that includes instructors of the NMBC Boot Camp.

“One of the most important business challenges for this century is productivity. Any business seeking a globally competitive advantage must be an efficient producer of its products and/or services. A sound business plan is a first step, and should be a part of the overall strategy for survival and growth,” said Fritz-Earle Mc Lymont, managing director of NMBC Global and an instructor with the Boot Camp.

In order to be considered, plans must adhere to the following outline:

  1. Title page
  2. Table of contents
  3. Executive summary

– more –

NMBC/competition/2

  1. Vision and mission statement
  2. Company overview
  3. Products and/or services plan
  4. Marketing plan
  5. Management plan
  6. Operating plan
  7. Financial plan and two-year projections
  8. Appendix, with supporting documents

Competition participants may request a free 30-minute consultation with any Boot Camp instructor while developing their plan. Winners will be announced at a special luncheon during the third week of January 2010. The first-place winner will receive a cash prize of $300, the second-place winner will receive $200, and the third-place winner $100. All 25 competitors will receive a free and confidential review of their plan. Every plan submitted will be treated as a confidential, proprietary document and will not be shared with anyone outside the panel of judges.

The NMBC Entrepreneurship Boot Camp was launched in February 2009, with sponsorship by The Bank of New York Mellon, The Network Journal, and New York State’s Division of Minority- and/or Women-Owned Business Development. Instructors help assess participants’ entrepreneurial readiness and fine-tune their skills to successfully operate business ventures, using such tools as lectures, role playing, and sharing in-the-trenches experiences. Lecture topics cover critical areas of running a business, such as goals setting, formulating success strategies, SWOT analysis, developing a business plan and controlling finances and personnel.

For further information about the Business Plan Competition or about the Entrepreneurship Boot Camp, please call John F. Robinson at (212) 693-5050, or e-mail Fritz-Earle Mc Lymont at info@nmbcglobal.org.

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