BINGAHMTON, NY – There’s help available for people looking 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 thousand dollars in start-up capital and a host of free professional services.
Last year’s winner, KLAW Industries, uses recycled glass to create a component of concrete.
It used its funding to help establish its facility on Griswold Street on Binghamton’s Eastside.
Chief Operating Officer Jacob Kumpon says just going through the competition is valuable.
“The process of going through and developing a business plan and then presenting it, helps to flush out what problems you’re going to run into. And helps to give feedback on what you’re actually doing. You want to bounce your ideas off your customers, but you also want to bounce your ideas off people who have done it before,” says Kumpon.
Free services for the winner include website design and internet marketing, legal and accounting work, membership in the Chamber and business signage.
This year, prizes will also be offered to the runners-up: 2 thousand for second place and 500 for third.
A workshop for applicants will be held online on March 30th at 5 P-M.
For more information and to register for the workshop, email EcoDev@CityofBinghamton.com.