BINGAHMTON, NY – There is help available for people who want to start or expand their business in the city of Binghamton.
For the 13th year, the City of Binghamton and its Local Development Corporation are partnering with the SUNY Broome Entrepreneurial Assistance Center and the Koffman Southern Tier Incubator to offer a business plan competition.
The winner receives $5,000 in start-up capital and a host of free professional services.
Last year’s winner, KLAW Industries, uses recycled glass to create a concrete component.
He used his funding to help establish his facility on Griswold Street on the east side of Binghamton.
COO Jacob Kumpon says just passing the competition is valuable.
“The process of reviewing and developing a business plan, then presenting it, helps uncover the problems you are going to encounter. And helps to give feedback on what you are actually doing. You want to bounce your ideas off to your customers, but you also want to bounce your ideas off to people who have already done it,” says Kumpon.
Free services for the winner include website design and internet marketing, legal and accounting work, Chamber membership and business signage.
This year, prizes will also be offered to the finalists: 2 thousand for second place and 500 for third.
A workshop for candidates will take place online on March 30 at 5 p.m.
For more information and to register for the workshop, email EcoDev@CityofBinghamton.com.