The Good, the Bad and the Ugly of Business-Plan Competitions

good-bad-ugly-business-plan-competitions

Not all business-plan competitions are created equal.

Some not only pay better than others, select competitions carry far more prestige. Still others require careful consideration, as some contests ask winners to fork over equity in their business — fine print that could wind up hurting a startup attempting to land investors down the road.

Of course, the fact that competitions offer dissimilar costs and benefits is hardly a news flash for the many young entrepreneurs who’ve participated in the contest circuit. But for those who are itching to start up — and lasso funding to do it — consider this your tutorial.

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  • Business Plan Resources

    Do you have a business idea or want to enter a business plan competition but not sure where to start? See our list of must-read business plan resources.