Calling all entrepreneurs

Times Reporter

 

The Chinook Entrepreneur challenge is back for its eighth consecutive year. Community Futures and ATB Financial are partnering to support the business planning challenge. Out of the six or seven Community Future partners, with Wildrose included, there have been approximately 500 people who have participated in the training sessions. 

“It’s an excellent business training program and it really gives people a good opportunity to not only get some high quality training, but also to communicate with other like minded people during the training sessions and ask questions,” said Ron Cox, General Manager for Community Futures Wildrose Region.

“Anyone can take the training even if their sales are $10 million, but they can’t compete in the business plan competition if their sales are over $2 million.”

Cox said there is usually 70 to 90 participants in the training, and of that, only 25 to 30 per cent actually submit business plans for the competition. 

“The most important element of this is the training that you receive for your business. That’s where the real benefit comes from,” said Cox. 

“Most people when they’re starting out don’t know where to start, and you really have to start with planning. Planning saves you just so much effort and misdirected effort. It just really helps to stop and think, and there are a lot of people out there that would like and want to start their own business.”

Participants will learn the business basics, such as marketing, creating a business plan, accounting, financial, advertising, and cash flow. Cox said it is pretty much the whole gamut of what is needed to execute an expansion, retention, a re-organization or putting a new business into place. 

Anyone who participates in the challenge will have a chance to compete for the grand prize of $10,000. There are also numerous in-kind prizes. Training sessions will be held at the Community Futures Wildrose office, and will go from Feb. 1 to March 28. Registration is free, and the eight sessions will be held every Wednesday from 6:30 p.m. to 9 p.m. Business plans are due April 30, 2012 and the final awards presentations will take place on June 14, 2012.  More information can be found at www.cfwildrose.ca