Spelthorne Business Plan Competition 2024
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 six 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 a venue in Spelthorne to be announced.
Prizes
The winner will receive £4,000 deposited into a business bank account, and a package of mentoring and support to help them bring their business ideas to life. They will also receive free website and logo design. First runner-up will receive £2,000, second runner-up will receive £1,000 and the remaining finalists will receive £150 each.
Rules of entry – please read carefully
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 or currently be in education in the Borough of Spelthorne
- All participants must be aged 16 or over
- 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
- Individuals or teams MUST be available to attend IN PERSON, the two workshops offered and the final – workshops to be held on Monday 13 May and Monday 20 May. Final is Thursday 27 June
How to enter
To enter simply complete the form, outlining your business idea and complete the agreement and consent section.
The opening date for submission is yet to be confirmed.
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 karen.porter@parliament.uk and leave your name, address and telephone number.
