Business plan competition offers $25K

Tuesday, October 23, 2018

McCOOK, Neb. — Twenty-five thousand dollars is up for grabs for local business startup or expansion in this year’s Hormel Entrepreneurship Competition, but the application deadline is Nov. 30.

Through a partnership with McCook Community College and Southwest Nebraska area business sponsors, the Hormel Entrepreneurship Competition helps local business startups or expansion using business plan writing and a business grant.

This competition is open to new business development or business expansion in seven Southwest Nebraska counties including Chase, Dundy, Hitchcock, Hayes, Frontier, Red Willow, and Furnas Counties.

Following the Nov. 30 application, a panel of judges will determine the finalists who will receive a scholarship to pay for tuition and fees (about $321 worth) to enroll in the mandatory eight-week on-line Entrepreneurship Business Plan writing course offered through Mid-Plains Community College for the Spring 2019 semester. Finalists will then have until April 5 to compile and present their business plan to the judges.

In 2016, more than $25,000 in business grants were distributed to multiple winners including: Citta’ Deli, McCook; Farkleberry’s, Hayes Center; KB Home Care, McCook; Lamp Post Coffee and Boutique, Benkelman; Myrtle Health LLC, Imperial; On the Spot Services, McCook; and Tornado Alley, Arapahoe.

Prize money can be used to develop business ideas or expand on current business with no strings attached.

Some local businesses who support this competition are some of previous year winners including: Citta’ Deli, Loop Brewing Co., and Game On Games & Comics.

“As much business background as I had, I never realized how complex yet how vital a business plan can be,” said Bill Lesko, who along with wife and co-owner Jade opened up Citta’ Deli in March of 2015. Shortly after opening, they realized they needed to expand to satisfy customer demand. They applied for the Ben F. Hormel Entrepreneurial Competition in October of 2016 and as one of 15 semi-finalists they received scholarship money to take McCook Community College’s Entrepreneurship Business Plan writing class.

“After taking the class, we listened to our customers, consulted our business plan and came up with the best possible plan.”

Thanks to the well thought-out business plan – using the resources they received for applying for the Hormel Competition, the Leskos were able to make major renovations and move to a new location earlier this year at 110 W. First.

During the 2016 competition two traditional students took the class and presented their business plan to the judges. One of those students was MCC graduate Bailey Kool who has since opened up the business -- Head 2 Toe -- that she developed in the class.

“This year, thanks to a grant from the Nebraska Community Foundation Fund and McCook Foundation Fund we are able to provide a scholarship for five students to take this class and pitch their business for $5,500 in grants for student start-ups,” said McCook Economic Development Director Andy Long. The deadline to enroll in that program is Oct. 31 For more information contact Ben Dutton at ben.dutton@unl.edu or call 308-345-3390.

The Hormel Family Foundation was founded in 1999 by the late Ben F. Hormel, a McCook entrepreneur, to support McCook Community College. Among his many business ventures, Hormel operated the Chevrolet dealership in McCook. When he passed away in 2002, he passed on the torch to his children and grandchildren, who operate the foundation today.

Their foundation is committed to education, entrepreneurship and business development in the McCook and southwestern Nebraska economic region. They believe that education and entrepreneurship are the strongest weapons against the population loss.

This competition began in 2007

Local sponsors will allow the college to keep the program going every other year, for at least the next five years. Gold sponsors include Community Hospital, McCook Economic Development Corp., McCook Community Foundation, MNB Financial Group and the McCook College Foundation and Mid-Plains Community College.

First Central Bank and Pinnacle Bank are bronze sponsors.

For more information about the competition please call the MCC’s Community and Business Education at 308-345-8122, email: HormelEntrepreneurshipCompetition@mpcc.edu

For competition rules, deadlines and complete details please visit the Mid-Plains Community College web site and click on the “Hormel Entrepreneurship Competition.”

www.mpcc.edu/community/hormel-entrepreneurship-competition

Respond to this story

Posting a comment requires free registration: