The ANZ Flying Start Business Plan Competition is looking for an original business idea, and the supreme winner will be set up with $45,000 worth of prizes to get the winner’s idea off the ground. Existing small businesses are eligible to enter so long as the idea is innovative and able to sustain revenue. The plan also needs to contribute positively to the local, national or global economy. The top five applicants will travel to Wellington to present their business plan to a panel of experts, with a $5,000 cash prize for second and third places, and $1,000 going to each of the 10 regional winners.
The competition is run by the Ministry of Business, Innovation and Employment, in an effort to kick-start promising business ventures or to give existing small businesses an opportunity to grow.
Kim Truscott, the Acting Manager of business.govt.nz, said last week, “The competition is not just about the prizes and recognition for the winners; it’s about getting businesses across New Zealand to take a proper look at their business plan and see where they are and what opportunities they have. We’re also encouraging businesses to get on to the business.govt.nz site and use our tools and resources to realise their full potential.”
The supreme prize package includes a cash prize of $30,000 provided by ANZ, $5,000 worth of marketing consultation, training or development from The Market Bureau, $5,000 of advertising in NZBusiness Magazine and $5,000 worth of legal advice from Lane Neave Lawyers. In the first stage of applications, individuals are to complete a business plan template, which is available on the website. If selected, applicants then have to complete a more detailed plan for the second stage. The top five from stage two will then travel to Wellington for judging.
The ANZ Flying start Business Plan Competition is now in its fourth year, with Otago’s Horse NZ International placing in the finals last year and receiving the Otago regional prize of $1,000. CHIA won the top prize last year and said that the prize was “invaluable” to the growth of their business.
ANZ are also offering free workshops to assist with applicants’ business plans and entries. The competition closes on 12 August and the entry form is available at business.govt.nz/business-plan-competition
$45,000 prize for innovative business idea
Competition set to kick-start promising ventures
