DID YOU KNOW THAT YOU CAN GET MONEY WITH A BUSINESS PLAN?
You would be amazed at the number of business plan competitions that are available every year for African entrepreneurs and small business startups.
Many of us don’t even know about them.
Business Plan competitions are usually sponsored by all kinds of local and international organisations to encourage small businesses and entrepreneurs with brilliant ideas.
Kenya’s Lorno Rutto is just one of many African entrepreneurs who raised startup capital by winning a business plan competition / entrepreneurship contest.
In 2011, She won a business plan competition organized by the Cartier Women’s Initiative, and received a prize award of Ksh.1 million.
This prize money provided the capital she needed to expand her recycling business which converts plastic waste from the streets of Kenya’s capital (Nairobi) into fencing posts.
Today, her business (Ecopost) has created over 20,000 fencing posts, 500 new jobs, generated more than Ksh.25 million in yearly revenues, saved over 250 acres of forests that would have been cut down.
There are hundreds of business plan competitions to choose from.
To enter for these competitions is easy.
First, you need to make sure you read the rules guiding the competition to confirm that you are eligible to enter the contest.
Above all, your business plan must present your brilliant business idea in a simple, interesting and convincing format.
By
Justine Nyachieo
Business Man and Mentor
Timothy Angwenyi
Business Consultant
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