Think you have a great idea for a small business? Well the City of Denver is looking for applicants for its first ever JumpStart Biz Plan Awards coming this fall. The Denver Office of Economic Development announced the competition last week. It is designed to honor the best and brightest in small businesses by recognizing the top ten startups as well as business concepts in their early stages of business planning and development. The top prize is $50,000 in cash and business support services to help the lucky entrepreneur launch his or her brilliant idea.
Denver Mayor Michael B. Hancock, said the city's culture of innovation and entrepreneurial spirit is stronger than ever and we want to celebrate this spirit. By identifying some of the brightest ideas and contributing to their success the city will further strengthen the Denver business community as one of the best for a starting and growing a business.
In addition to the $50,000 grand prize, the winner of the best business plan competition will receive several comprehensive services designed to help start the business on solid footing for future success. The winning business plan will receive 35 hours of business law counseling, 60 hours of tax and accounting services, 60 hours of strategic marketing and social media services and one year of paid lease space at the Galvanize G1.0 office building.
Starting your own small business can be extremely exciting as well as fraught with legal complexities that may not be in your bailiwick of business know-how. That is why having a legal partner on your side to ensure you start your business on the right foot from the beginning can be very advantageous. From ensuring you set your business up with the right legal entity, whether a corporation, partnership or LLC, you need to know the pros and cons of each entity before locking in a plan.
The Denver Office of Economic Development's JumpStart 2012 strategic plan and awards program is open to startups and established businesses with 25 or less employees that have been in business for five years or less. Only the first 150 entries will be considered and applications are being accepted now until 150 entries are received or September 14th, whichever comes first. Also, applicants must reside or plan to reside in Denver to qualify. All winners will be announced at the Denver Startup Week event held this October 22nd - 26th.
Source: Denver Office of Economic Development, "City of Denver's JumpStart Biz Plan Awards to Honor Best in Small Business," July 17, 2012