Studer Community Institute

Deadline nears for Century Business Challenge

March 24, 2015
/ Mollye Barrows
/ community-dashboard

The deadline to enter the Century Business Challenge is at the end of this month and so far there are five applicants. They are proposing a variety of businesses, including education, medical, sports, music and technology. Quint and Rishy Studer donated $25,000 to fund the challenge, which is similar to a project the Studers launched in Pensacola. The cash and other incentives will be awarded to the developer of the winning business plan with the goal of jump-starting business. The winning business will get space and its name on the sign at the newly renamed and renovated Century Business Center on Pond Street. To encourage entrepreneurs to locate in Century, the Mayor and Town Council agreed to extend the offer of $1 rent for the first year at the Century Business Center to the first and second place winners. The town is also in the process of furnishing one of the vacant spaces so that it can be used as a community and business resource center with an adjacent community classroom. "Participants who take the competition seriously and utilize the resources made available to them by the SBDC should walk away from the competition with a viable business plan that they can still use to open their own business," said economic development coordinator Allison Tyler. Tyler was hired by the University of West Florida’s Haas Center for Business Research and Economic Development to oversee the challenge. “This is a great opportunity to learn how to develop your own business and help bring growth to Century,” she said. Other applicants are proposing computer marketing and medical coding businesses. If you’d like to apply or learn more about it, you can find more information at the Century Business Challenge website. The deadline is March 31. Finalists will be notified by mid-April. They will then enter an eight- to 10-week program tailored by the Small Business Development Center. The SBDC is also opening the business development workshops to the general public as well as the registered participants. Pre-register for the workshops is recommended on the SBDC's website: http://uwf.edu/cob/community-outreach/florida-small-business-development-center-at-uwf/ SBDC/Century Business Challenge Workshops — 6 p.m. April 7: Starting a Business in Florida – PSC Century Campus Room 7720. Take the first step in starting your small business! Attendees will learn the essentials for getting started in business including: idea evaluation, legal business structures, regulations & licensing, taxation, finding capital and more. — 6 p.m. April 8: Crafting a Business Plan – PSC Century Campus Room 7720. Attendees will discover the key components and the basics of writing a business plan. — 6 p.m. April 9: Market Research & Financial Projections – PSC Century Campus Room 7720. During this workshop, attendees will learn how to use market research and data to help them prepare believable financial projections to start or grow their business. Market research and financial projections are a very important part of a business plan as it shows a lending institution how your business should perform financially. Attendees are asked to bring a calculator.

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Deadline nears for Century Business Challenge

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