Competition deadline extended
The deadline for applications for this year’s Progress2Capital provincial business planning competition has been extended to midnight Feb. 8.
The annual competition, presented by Regina Regional Opportunities Commission (RROC) and Saskatoon Regional Economic Development Authority (SREDA), is based on the idea that supporting entrepreneurs starting up a new business can significantly increase their success rates.
Small businesses represent more than 96 per cent of all businesses in Saskatchewan and employ one third of the labour force.
But as many as 80 per cent of small businesses fail within the first few years of startup.
“A key component of RROC’s mission is to encourage the retention, growth and attraction of business and this starts with supporting entrepreneurship in our region and province,” said Larry Hiles, president and CEO of RROC, in a media release
“(P2C) is a prime example of how RROC works in partnership with others to support and develop entrepreneurship in Saskatchewan.” Hiles said in a press release.
The competition is six months in duration, during which participants attend a venture runways boot camp to refine their business idea and define their market, attend a perfect pitch workshop with renowned investor pitch expert Linda Plano, refine their business model during design weekend and attend an entrepreneurship boot camp to further develop their business operation skills.
Participants will also be assigned a mentor for oneon-one business plan development, attend networking events with business leaders and potential investors, and participate in real-life pitching situations to a panel of judges.
“You have to be willing to put in a lot of hard work,” said Adam Reeson, owner of Reeson Premium Signs of Regina and grand prize winner of the 2012 P2C competition.
“But if you have the enthusiasm and drive to do it, and a pretty good business idea, then I would highly recommend this competition to anyone willing to give it a try.”
For more information on the competition or to download an application form, visit www.progress2capital.com.