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EDA Launches Business Plan Competition

Posted: August 29, 2017

“You know what Moorhead really needs…?” I hear this phrase a lot as I’m out in the community. What follows this phrase is a variety of restaurant, store, and service business ideas. While the ideas are diverse, each and every suggestion is right. Moorhead has a wonderful, rich, and varied business community, but there is always room for more. This is why the EDA has launched Startup Moorhead, a business plan competition.

Entrepreneurs who will open or relocate their business to Moorhead in 2018 can submit their business plans to the EDA by December 1, 2017 to be eligible for the grand prize of $5,000. Second place is $1,000 and an honorable mention will receive $500. The top three submissions will be invited to present their business at a banquet in December where the winner will be determined and prizes awarded.

The beauty of this program is that it gives the resource that entrepreneurs and small businesses need most (cash!) at the time when it is most impactful. Cash can be tight in the early days of a business, where up-front expenses are high and cash flows are critical. And these funds might even be the difference between a dream staying a dream and a dream becoming a Moorhead business. This money could be six months of rent, or signage for a storefront, or a marketing campaign to raise awareness of a fledgling business.

If you have ever been tempted to say, “You know what Moorhead really needs..?” I encourage you to put your idea into motion and down on paper. If you already have your idea, I encourage you to consider making Moorhead your business’s home. Visit Startup Moorhead for full program details and help give Moorhead “what it really needs.”

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