Business: Your business plan could win $1000

Wanganui City PHOTO/FILE

Giving Wanganui businesses a leg up with some start-up cash is the aim of the ANZ Flying Start Business Plan competition.

The competition, run by Business.govt.nz, part of the Ministry of Business, Innovation and Employment, is in its fourth year and gives existing small businesses, or those with an idea that are yet to start-up, the shot at prizes worth more than $65,000.

Wanganui businesses will be vying with those from Manawatu for one of 10 regional prizes worth $1000 each.

To have a chance at winning, businesses simply enter their business plan showing an original idea geared for growth and sustainable revenue. The best and most innovative plan in the country will see the supreme winner win a prize package worth $45,000.

Last year, INR Online was the Wanganui-Manawatu regional winner.

Paul Harper from INR Online said making the business plan was really helpful.

"The plan made us focus on specific areas of growth and gave us some ideas we had not considered before," Mr Harper said.

Kim Truscott, acting manager of Business.govt.nz, said the competition was not just about 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," Mr Truscott said.

Gold sponsor ANZ is again putting up $30,000 in cash for the supreme winner as well as $5000 to the second and third-prize winners. The regional winners each receive $1000 cash from silver sponsors Ernst & Young, OfficeMax and Xero.

Go to http://www.business.govt.nz/business-plan-competition.

Entries close on August 12.