The Brooklyn Public Library’s, Eighth Annual PowerUP! Small Business Plan Competition, which strives to provide pivotal resources and funding to support the small business dreams of local entrepreneurs, will hold its annual award ceremony at Brooklyn Public Library’s Dweck Center on Tuesday, Jan. 10 at 6 p.m.
The top prize of $15,000 plus more than $5,000 in business assistance services will help the winner turn his or her dream into a successful company. As of this year’s contest, over $220,000 in seed capital has been awarded to local entrepreneurs by the program’s sponsor, Citi Foundation.
Of the 109 Brooklyn participants who submitted business plans for this year’s competition, 13 have been selected to compete for more than $25,000 in prizes. The finalists include a niche craft store in Windsor Terrace, a sustainable seafood store in Park Slope, a Ditmas Park neighborhood café, and more.
“Small business owners can provide a steady source of income for their families, and jobs and economic activity for their communities, while realizing their entrepreneurial dreams,” said Eileen Auld, Citi’s regional director for Community Development.
Since the competition started, Brooklyn Public Library’s PowerUP! program has helped to launch 32 local small businesses, creating hundreds of jobs in the community.
“The Brooklyn Public Library PowerUP! Business Plan Competition has become an increasingly popular and valuable contribution to the start up community. By offering a cash incentive, it encourages aspiring entrepreneurs to use the library to do research, get advice and plan carefully” said Maud Andrew, Brooklyn Public Library programs and outreach specialist. “