City of Binghamton, New York

Mayor David Announces 2021 Binghamton Business Plan Competition

2/26/2021

(BINGHAMTON, N.Y.) — Mayor Richard C. David on Friday announced details of the Binghamton Local Development Corporation (BLDC) and SUNY Broome’s Entrepreneurial Assistance Program (EAP) 2021 BLDC-EAP Business Plan Competition, which awards $5,000 to the best plan for developing a business in the City of Binghamton.

“Promoting small business development and entrepreneurship are key objectives of the City of Binghamton,” said Mayor David.  “I look forward to seeing the new ideas generated by this competition.”

The competition, which is the longest running of its kind in the Greater Binghamton area, seeks to cultivate local business development, promote entrepreneurial spirit and raise awareness about EAP training, BLDC financing and other community resources for small business growth.

Applications are due April 7.

In addition to a $5,000 cash award, the winner will receive additional support donated by Binghamton businesses and organizations:

  • 5 hours of accounting services: Davidson Fox & Co., Binghamton
  • $500.00 of legal counsel: Coughlin & Gerhart, LLP, Binghamton
  • 1 year membership in the Greater Binghamton Chamber of Commerce
  • $500.00 in sign creation services courtesy of 3i Graphics & Signs, Binghamton
  • $500.00 in website services courtesy of Freshy Sites, Binghamton
  • $500.00 in branding services courtesy of Idea-Kraft, Binghamton
  • 3 months free co-working membership at the Koffman Southern Tier Incubator courtesy of Binghamton University and SUNY Broome

The competition’s criteria includes the following:

  • Applicants must either plan to start a business or have an existing business that is less than five years old.
  • Applicants must demonstrate the ability to finance and open the business in the City of Binghamton within four months of winning the competition and commit to keeping the business in the City for a minimum of three years.

Participants are strongly encouraged to attend a free online “Business Plan Development Workshop” sponsored by the Binghamton Economic Development Office on Wednesday, March 31st 2021 from 5:00 p.m. — 7:30 p.m. To register, please email your request to ecodev@cityofbinghamton.com.  The workshop is open to any individuals interested in competing and will cover best practices in starting and growing a business. 

Full information on applications, eligibility requirements and important dates are available on the SUNY Broome EAP program website  and the BLDC page or you can contact Binghamton Economic Development at 607-772-7161 or EcoDev@cityofbinghamton.com.

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