New 'Plan for the Future' Competition Seeks Next Generation of Entrepreneurs

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Plan For The Future, a youth business planning competition designed to enhance the entrepreneurial capability and strategic planning expertise in the next generation of U.S. entrepreneurs, is accepting entries from U.S. college and high school students through May 31, 2006.

We’re pleased that BizFilings has recognized the potential in these young people. Students need opportunities such as ‘Plan for the Future’ to enable them to develop insights and the expertise to successfully start and manage their own businesses.

Young entrepreneurs from across the United States can win one of ten $1,000 scholarships and up to $7,500 in seed capital as part of a business plan competition sponsored by BizFilings and the National Federation of Independent Business through its non-profit education organization, the Young Entrepreneur Foundation.

Plan For The Future(SM), a youth business planning competition designed to enhance the entrepreneurial capability and strategic planning expertise in the next generation of U.S. entrepreneurs, is accepting entries from U.S. college and high school students through May 31, 2006. The two students who submit the top two business plans from each of the NFIB’s five regions will receive a $1,000 scholarship (a total of ten awards). Students submitting the top three business ideas nationally will receive seed money for their business: $7,500 for first prize, $5,000 for second prize, and $2,500 for third prize.

Mark Schiff, general manager of BizFilings, said the competition provides a valuable opportunity and incentive for participants.

“The ‘Plan for the Future’ competition provides promising entrepreneurs with real-life experience and encouragement for their ideas,” said Schiff. “No matter what the outcome, students will gain valuable insights from simply participating in the competition. Drafting a business plan is the first, and possibly, the most important step toward starting a successful business. And we’re excited about partnering with the Young Entrepreneur Foundation to give these students a chance to fulfill their dreams.”

Hank Kopcial, executive director of the YEF said co-sponsoring the competition is part of an ongoing effort by NFIB to promote entrepreneurship in high schools and colleges.

“Entrepreneurship is a lifelong learning process,” Kopcial said. “We’re pleased that BizFilings has recognized the potential in these young people. Students need opportunities such as ‘Plan for the Future’ to enable them to develop insights and the expertise to successfully start and manage their own businesses.”

About The Contest

Students must submit a detailed and viable business plan, of no more than 20 pages. Elements of the plan must include: overview/profile of the business; SWOT analysis; market analysis; sales and marketing strategies and financial analysis. Participants must be either a high school senior or full-time college student.

Plan for the Future entries will be judged by an independent panel based on the quality, creativity and viability of the business plan. Entries will be accepted from March 15 to May 31, 2006. Winners will be notified by June 5, 2006. Prizes will be awarded to the top three entries June 18-20, 2006 at the 2006 NFIB National Small Business Summit in Washington, D.C.

Contest details will be available from the NFIB (http://www.nfib.com) and BizFiling (http://www.bizfilings.com) web sites beginning March 15, 2006.

About NFIB

The NFIB Young Entrepreneur Foundation is a 501(c)(3) organization promoting the importance of small business and free enterprise to the nation’s youth. The Foundation is associated with the National Federation of Independent Business, the nation’s largest small-business advocacy group. A nonprofit, nonpartisan organization founded in 1943, NFIB represents the consensus views of its 600,000 members in Washington and all 50 state capitals. More information is available at http://www.NFIB.com/YEF.

To accomplish its mission, the Young Entrepreneur Foundation depends on support from companies, such as BizFilings, who are interested in strengthening our country's commitment to teaching the values of free enterprise and entrepreneurship.

About BizFilings

BizFilings is the leading Internet provider of incorporation and related services to business owners. BizFilings professionally forms corporations, LLCs, and nonprofits faster than anyone else. The company also offers Ultimate Business Planner software to help new businesses succeed.

As a company started in 1996 by entrepreneurs seeking online resources to start a business of their own, BizFilings embraces the entrepreneurial spirit. The company has grown rapidly in the past decade, helping over 100,000 domestic and international business owners with their corporation, limited liability company, and nonprofit formation needs. The company is headquartered in Madison, WI, with satellite operations around the country.

BizFilings is a part of Wolters Kluwer, a leading multinational publisher and information services company with annual sales as of 2005 of €3.4 billion and approximately 18,400 employees worldwide.

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