News and Events

City of Chicago Business Plan Competition

Do You Have a Great Business Idea? We Want To Hear It!

The Chicago City Treasurer's Office is proud to announce the launch of the annual Business Plan Competition. The competition is open to start-up and existing small businesses throughout the city.

UIC's Center for Urban Business will present three workshops to coach participants for the competition. Register for the workshops at Workshops and Events

Ten finalists will then be selected to submit a full business plan. Three winners will be selected based on their ability to clearly and concisely articulate their business idea, the creativity and practicability of their marketing and sales strategy, and the overall viability of their business. The winners will be announced on July 16 at the Chicago City Treasurer's Small Business Expo. In addition, the winners present their winning business plans at the Expo.

First Place Winner - $5,000 * Second Place Winner - $3,500 * Third Place Winner - $1,500

Competition Rules:

• Business can be a start-up venture or an existing business. Existing businesses should not be in business more than 3 years and should have revenues below $2 million.
• All businesses must be located or plan to be located in the City of Chicago.
• The following businesses are not considered eligible for the competition: Tobacco production, Hard liquor production, Casinos or other gamble ventures, Fur production, Currency speculation, Securities investment, Speculative industries, Adult entertainment related industries.

For a complete set of rules please visit www.chiventures.org/initiatives/busp lancomp/index.shtml or e-mail businessplans@cityofchicago.org

Important 2010 Dates:

• Wed. March 3, 6  8 p.m.: Business Planning Workshop at Chicago Community Ventures, 105 W. Adams St. Suite 2300
• Wed. March 10, 6  8 p.m.: Business Planning Workshop, at Chatham Business Association, 7801 S. State Street
• Wed. March 17, 6  8 p.m.: Business Planning Workshop at Chicago Community Ventures, 105 W Adams St, Suite 2300
• Wed. March 24, 6  8 p.m.: Business Planning Workshop, at Garfield Park Conservatory Alliance, 300 N. Central Park
• Mon. April 5: Executive summaries submissions due (by 5 p.m.)
• Mon. May 10: 10 finalists announced
• Mon. March 31: Finalists business plans due (by 5 p.m.)
• Fri. July 16: Winners announced at Small Business Expo at UIC Forum

To enter, submit the two-page executive summary on the Official Competition Template to businessplans@cityofchicago.org by April 5, 2010. Templates are available at www.chiventures.org or by e-mailing businessplans@cityofchicago.org. For more information or with questions call Chicago Community Ventures at 312.960.0320.