Local businesses win awards at Business Plan Competition
Three local businesses were recently named winners in the second annual Poised for Growth Business Plan Competition, organized by the Illinois Small Business Development Centers at Elgin Community College and Waubonsee Community College.
First place went to Geneva and Rena Pedersen of Treasure Breads in Yorkville. Their company was awarded a $10,000 cash prize and a consulting engagement valued at $5,000.
Second place went to Rebecca Gengler of More Polish Pottery in Big Rock. Her company was awarded a cash prize of $2,500.
Third place went to Laurie Petrick of Eagle Engraving in St. Charles, who was awarded a cash prize of $1,500.
The prize money was provided through donations from local organizations.
More Polish Pottery and Treasure Breads are clients of the Waubonsee Small Business Development Center. More Polish Pottery plans to hire a marketing intern with their award money, and Treasure Bread will use the funds from their award to upgrade their website.
The remaining finalists were: Dawn Phillips of Early Light Café in Geneva, Shari Ralish of Peaceful Parlour in Geneva, Toni Greathouse of Custom Community Creations in Bolingbrook, Shay and Elizabeth Rodriguez of The Gypsy Haven in Elgin, and Chris Molloy of Harmoney Deicing Products in St. Charles.
To participate in the contest, a business had to be headquartered in Illinois, be in business at least 3 years, be classified as for-profit and a small business.
Thirty-five applications were received.
In the competition, owners submitted a written plan detailing their tactics for the future growth of their business over the next three years.
In the final phase, the top eight contestants were required to pitch their growth plans to a panel of three judges.
The competition and prizes were sponsored by the following local businesses: First National Bank, Fifth Third Bank, Rubino Engineering, JD Main Ltd, The UPS Store in Algonquin, Kimmers Ice Cream, Old Second Bank, JJR Marketing, and Fox Valley Entrepreneurship Center.