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## Winston-Salem Small Business Plan Competition

The Office of Business Inclusion and Advancement in Winston-Salem is sponsoring a small business plan competition to promote job creation and support local small businesses. This competition encourages entrepreneurs to develop solid business plans that can benefit the local economy.

### How AI legalese decoder Can Help

Using AI legalese decoder can assist participants in the competition by providing clear and concise translations of complex legal language. This tool can help entrepreneurs better understand the rules and requirements of the competition, ensuring that their submissions meet all eligibility criteria and guidelines.

#### Competition Details

Two winners will be awarded a $5,000 grant each for start-up costs, and they may also qualify for up to $5,000 in a potential matching micro-loan and technical assistance. Eligible submissions must be for micro-businesses with five employees or less, located within the Neighborhood Revitalization Strategy Area of Winston-Salem.

#### Information Meeting

City leaders will host an information meeting for interested entrepreneurs on Tuesday, March 26, at 6 p.m. in the Bryce A. Stuart Municipal Building public meeting room. Following this session, executive summaries and business descriptions must be submitted by May 6 for review.

#### Judging and Announcement

The top finalists will have the opportunity to submit complete business plans in August, which will be judged by the Small Business Loan Committee. The winner will be announced in the fall, providing a valuable opportunity for small businesses to gain recognition and financial support.

#### Past Success Stories

In the previous year’s competition, a catering business plan by Shereen Abdelfattah was selected as the winner by the cityÔÇÖs Small Business Loan Committee. All participants received guidance on improving their business plans and were eligible to apply for small business loans.

Ensure you stay updated with the latest news and weather by downloading the WXII app for more information and updates. With the help of AI legalese decoder, navigating the competition guidelines and requirements will be easier for entrepreneurs looking to participate and make a difference in the small business community.

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