Tarleton’s College of Business, SBDC kick off contest for Erath entrepreneurs

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STEPHENVILLE (January 2, 2017) — Erath County entrepreneurs have the chance to net some extra cash and prizes when Tarleton State University’s College of Business Administration kicks off its annual business plan competition on Monday, Jan. 9, beginning with orientation sessions. A total of $55,000 in cash and prizes is up for grabs.

The competition—Entrepreneurs of Erath (EoErath)—is open to all startup and existing businesses as well as Tarleton students, regardless of their major, who write the best business plan.

To be eligible, entrepreneurs must expect to create at least three news jobs in Erath County and agree to headquarter and operate within the county for at least two years. Existing businesses must be less than a year old and prove net revenue of less than $75,000 to compete.

The top three finalists will receive cash prizes of $5,000, $2,500 and $1,000, respectively, and a share of professional finance, marketing, web design, legal, human resource and engineering services—valued at more than $45,000—to develop their businesses.

Winners also will receive a free membership to the Stephenville Chamber of Commerce.

In addition to Tarleton’s College of Business and the university’s Small Business Development Center (SBDC), sponsors are Stephenville Economic Development Foundation (STEDCO), Stephenville Economic Development Center, Dublin Economic Development Center, Stephenville Chamber of Commerce and the city of Stephenville.

“We are excited about the tremendous economic opportunities this competition brings to Erath County,” said Tarleton SDBC Director Randy Burch. “Our last competition resulted in several new jobs for the county, and we anticipate even more as a result of this year’s contest.”

To get started, contestants are encouraged to attend one of five orientation sessions before filling out an application form and submitting a $50 entry fee. The first orientation is set for 5:30 p.m. Monday, Jan. 9, in Room 172 of Tarleton’s College of Business. Times and locations for other sessions are available at www.EoErath.com.

In addition to orientation sessions, Tarleton’s SBDC will host a training session in February and March on how to write a business plan. Tarleton SBDC has more than 30 years of experience providing business consulting and will be available at no cost to assist entrepreneurs with all aspects of EoErath.

The competition consists of three rounds, the executive summary, formal business plan and a pitch before contest judges. The executive summary, due Feb. 10, serves as a brief snapshot of the business. First-round results will be announced Feb. 24.

A Tarleton student will be assigned to contestants who advance to the second round to help with business plan development.

Contestants will present formal business plans in round two, including a company overview, details on management/owners, products or services, target markets, strategy and implementation, value to Erath County and financial projections. Formal business plans are due March 24, and finalists will be announced March 31.

Finalists advancing to round three of EoErath will pitch their business plans April 14 and 15 to contest judges, followed by a question-and-answer session.

Contest winners will be announced April 21 at an awards luncheon.

For an EoErath application and additional contest instructions, visit http://www.eoerath.com. For more information on Tarleton’s SBDC, go to http://www.tsusbdc.com or call Randy Burch at 817-573-7681.

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