The purpose of the competition is to promote and encourage the startup of new businesses, in turn the creation of new jobs, on Maryland’s Eastern Shore.
Eastern Shore Business Plan Competition Offers $35,000 in Cash and Services
The Spy Newspapers may periodically employ the assistance of artificial intelligence (AI) to enhance the clarity and accuracy of our content.
Jack Offett says
So, there’s tons of responses to the Spy poll on what Chestertown needs to redevelop downtown, but this story has been here for more than a week. There are no responses and I am typing to the sound of crickets in my hearth…literally.
Kevin Shertz says
I fail to personally see the correlation you’re making between the two items… People will enter the competition, or they will not.
Tons of businesses, especially ones not seeking outside funding, are started without a “formal” business plan.
For example, when I started my own architecture practice in 2005, it had no formal business plan… just a sense there was a need for design services in this area and that I had enough confidence to believe I could provide said services with competence and aesthetic clarity. I won my first – and, well, only so far! – AIA Design Award in 2007.
7 1/2 years later, I’m still here, having beat the odds of a business failing within its first 5 years.
The loss of confidentiality involved in this competition will be very off-putting to some; maybe not others. Or maybe some people don’t feel the need to telegraph their every intention. Who knows?
Since finalists aren’t announced until November 9th, there really doesn’t seem to be any point in hand-wringing about the subject before then.