Applications open for Business Plan contest

Contest submission deadline March 24; finalists to be chosen in April

Mirror report
The Midlothian Chamber of Commerce has named three finalists for its second Business Plan Competition. The finalists will make their pitches to a panel of judges on Thursday evening at the Midlothian Conference Center.

The Midlothian Chamber of Commerce is now accepting applications for the Chamber’s second Business Plan Competition.

The deadline for business plan submissions will be March 24 at 5 p.m., with finalists announced on April 7 and the pitch competition scheduled for April 15. Business plans must be delivered to the Chamber or submitted by mail; email submissions will not be accepted.

Registration fee for entrepreneurs is $50 and may be paid in person by check or credit card or online by credit card. A registration form and competition details are available on the Midlothian Chamber’s website.

First place in the competition will receive $5,000 cash, while second place will win $3,000 and third place, $1,000. Cash prize sponsors are Methodist Midlothian Medical Center, Tarleton State University-Midlothian Campus, Frost Bank, First Financial Bank and Omega Airline Software.

In addition, the winner of the Business Plan Competition will receive a number of valuable in-kind services from the following Chamber members:

A Fairchild, PC — Offering up to four (4) hours of complimentary accounting consulting. The company can assist with financial reporting, budgeting, Quickbooks, internal control evaluations, accounting policies & procedures, and accounting questions relevant to your business. 

Hardesty Law Firm ­— Offering Legal Consultation and Contract Preparation (approx $1,500 value); one hour consultation to determine your company's legal needs and develop a timeline and budget for addressing them; up to four hours of drafting assistance with entity formation documents*, a nondisclosure agreement, a lease agreement, purchase order terms and conditions, other necessary legal docs (*Formation documents are limited to single-owner entities incorporated in Texas.) (**All services are subject to the condition that this consultation with the contest winner will not create a conflict of interest for Hardesty Law Firm or otherwise violate Hardesty Law Firm’s ethical obligations to current clients.)

First Financial Bank — Offering the three finalists a Business Basic Plus Checking Account free for one year. This has a value of $180 per contestant.

Paragon Payroll — Will provide basic payroll services up to 5 employees free for 90 days. 

Diamond Voice Cloud Phone Service — Will offer the top three finalists FREE phone service for one year, with up to four (4) lines per business.

Frost Bank-Mansfield — Will provide a new laptop to the winner with QuickBooks Accounting software installed.

UPS Store — Is offering you 250 business cards, 250 sheets of letterhead, and 50 half-page flyers to help your small business look great and get the word out about your new business.