NM Statewide Youth Business Plan Competition 2009
Attention Students!
An entrepreneur is someone who starts and runs a business. Therefore if you have a dream of starting your own business, you can call yourself a young entrepreneur. You may also give yourself a title such as President, CEO (chief executive officer), or founding partner. Whether you are interested in starting a business, preparing for a career, or making a little extra money, you can start today by entering the New Mexico Youth Entrepreneur Network’s (NMYEN) Statewide Business Plan Competition. You are never too young to think like an entrepreneur and plan your business! The Statewide Youth Business Plan Competition is an acclaimed annual event to be held in the fall of 2009. Please visit www.bizport.org for more information.
Attention Teachers!
The NMYEN Statewide Youth Business Plan Competition 2009 is an opportunity for students to explore their dreams of starting their own business and gain knowledge of entrepreneurship through the process of participating in a business plan competition. This is a great teaching tool for business, marketing, financial literacy, and career exploration. Please help us reach students by distributing this package and assisting students in developing their business plans. We are starting early this year so students will have ample time to develop their plans before schools recess for the summer. Each student or student team must mail or fax (505.747.7250) a completed business plan provided in this packet to the address on the Business Plan cover no later than June 30, 2009.
Competition Timeline:
- February 3, 2009: The Business Plan template is posted on Bizport.org.
- February 3: The NM Youth Entrepreneur Network will notify teachers and administrators statewide of the competition and how to access the Business Plan.
- February – June 30th: Youth participants will work with adult sponsors/teachers at their schools to write their business plans using the business plan template in this packet.
- June 30: Deadline for submitting business plan applications.
- July 5: A team of judges will choose the top 12 business plans in each grade range (24 total).
- July 12: A letter and email will be sent to all who entered naming the top 24 finalists who were chosen to present at the competition.
- July 12: Presentation guidelines and event details will be sent to the finalists.
- July – Sept, 2009: The 24 finalists will work with teachers, team members, and parents to prepare and practice their 15 minute powerpoint presentation of their business plan.
- Fall, 2009: The NMYEN Statewide Business Plan Competition will be held at NMSU. Five business plans from the middle school group and five from the high school group will win start-up capital!!
Cash Prizes!
The competitors will be divided into two age groups for judging and presentations: Group 1 (middle school students : grades 7 - 8) and Group 2 (high school students: grades 9 – 12). If a team rather than an individual student presents a business plan that wins, the cash award must be divided between team members. At the competition in October, the individuals or teams who win first, second, third, fourth, and honorable mention in each age group and their adult supervisors will be presented with checks for the following prize amounts:
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Grp 1 : Middle School
Grades 7 - 8
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Student or Team Cash Award
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Business Teacher/ Sponsor Stipend
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1st
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$500
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$200
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2nd
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$400
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$200
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3rd
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$300
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$200
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4th
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$200
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$200
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Honorable Mention
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$100
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$200
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Grp 2: High School
Grades 9 - 12
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Student or Team Cash Award
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Business Teacher/Sponsor Stipend
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1st
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$800
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$200
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2nd
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$600
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$200
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3rd
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$500
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$200
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4th
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$300
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$200
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Honorable Mention
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$150
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$200
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Rules and Guidelines:
The following are the basic rules and guidelines established for the Youth Business Plan Competition. All participants in this competition must adhere to these rules and guidelines in order to remain eligible. Please read carefully!
- Entries are restricted to students in two school groups: Group 1 – Middle School ( 7 – 8th) and Group 2 - High School (9 – 12th). The students can be attending a private, public, charter or home-based school or be part of an extracurricular program such as 4-H, BPA, DECA, or Junior Achievement.
- Only one entry per student or student team.
- All entries must be submitted on or before the deadline date of June 30, 2009. Late entries will not be accepted.
- All finalists who are chosen to present at the competition are expected to demonstrate respect and professionalism in all aspects of the contest and its activities.
- All ideas or business concepts must be legal, within the boundaries of local or state laws, and be ethical. Extra points will be awarded for “feasibility.” This competition is meant to encourage the actual implementation of youth-run businesses.
- All ideas and business concepts submitted are expected to be original and created solely by the student with the support from a sponsoring teacher. All participants are expected to honor other students’ ideas with confidentiality.
- All decisions of the judges are final.
li>The student or student teams must complete his/her/their own business plan. Adult technical assistance should be limited to advice.
- All ideas submitted will remain the property of the submitting student.
- All students must use the business plan forms and mail or fax them to the address or number on the cover sheet. It can also be saved as a Word Document, filled out, and attached to an email sent to mbrenden@cesdp.nmhu.edu.
- Last but not least-HAVE FUN!