The Business Plan Competition consists of a week of educational activity focused on business development and one day of presentations from which participants can win prizes. About 10 participants formulate and then develop a business idea. The idea can be an existing one or new one but every participant must develop their idea in a written plan. The business plan, developed by La Ceiba students, is comprehensive asking questions about capital, costs, price points, competition, markets and revenue projections.
La Ceiba students provide support to participants by teaching financial concepts, facilitating discussion, and working individually with each participant. These sessions serve to explain further details of the business plan and to help spur discussion and ideas on the development and creation of each business.
At the end of the week, participants submit their proposal to students and present their idea to a panel of judges. The judges, recruited by La Ceiba, are well-established business owners and leaders within the El Progreso community. Judges use the oral presentation and the written proposal to determine the best four. In January of 2014 the first place winner won a $200 prize.
