The Spelthorne Business Plan Competition 2016

About the competition

The Spelthorne Business Plan Competition represents a search for the local business entrepreneurs of tomorrow. Participants are asked to think of a business idea and answer our online question form. The five best entries will then create a business plan to present to our panel of expert judges at a ‘Dragon’s Den’ style final hosted at BP.

Prizes

The winner will receive £3500, deposited into a business bank account, and mentoring and support provided by Sabine Lohmann who is a Market Research and Business Consultant, and Award winning Entrepreneur – http://www.insightsresearch.eu/ – to help them bring their business ideas to life. The will also receive free website and logo design courtesy of Taig Design. Runners up will receive £1000. Third placed will receive £200.

Rules of entry (please read carefully)

The competition is open to those who have a business idea and no business experience and to The competition is open to those who have a business idea and no business experience and to those with existing businesses – neither group will be given an advantage – as long as they meet the criteria below.

• all participants must be residents of, work in or currently be in education in the Borough of Spelthorne
• all participants must be aged 16 as of the 31 August 2016
• the competition can be entered by individuals or in teams (4 people max)
• the competition welcomes plans for new businesses only
• business plans may be submitted for any type of business

How to enter

To enter simply complete the application form, outlining your business idea and complete the agreement and consent section.

The deadline for entering the competition is 21 April 2016.

Schedule

Evaluation criteria

Assessment criteria will be used by judges for fair comparison of participants’ submissions and presentations during the competition.

When evaluating entry forms, the judges will focus on many different issues, including the following:

• the commercial potential of business ideas with high potential, growth-oriented businesses likely to be viewed more favourably
• the innovative nature and technical feasibility of ideas
• the likelihood that the business described can achieve a sustainable and competitive advantage
• the economic viability of the business idea described and the proposed use of financial resources

Detailed judging criteria for the final will be supplied to participants who reach those stages of the competition, closer to the time.

Advice and support

For any assistance or advice please email Michael.Craig@parliament.uk and leave your name, address and telephone number.

Apply for Competition