2009 Business Plan Competition: Resources

2008 Winner | Past Winners | Dean's Message | Event Calendar | Requirements
Business Planning 101 Curriculum | Opportunity Analysis | Plan Evaluations
Judges | Enter the Competition | Business Resources | Current Sponsors | Contact Us

 

The following business and community resources are available to competing teams:

Business Counseling and Technical Assistance Available at the
Maine Small Business Development Centers (Maine SBDC)

Maine Small Business Development Center
Greater Portland Office
68 High St.
Portland, ME 04101
207-780-4949
http://www.mainesbdc.org

 

The Maine Small Business Development Center (SBDC) can:

  • Provide high quality, no cost, individualized business management assistance through one-on-one consulting and counseling.
  • Coach and encourage student teams.
  • Facilitate ideas for access to capital.
  • Create awareness of the multiple resources of various academic communities, federal, state and local governments, private enterprise and the non-profit sector that could lend support.
  • Aid access to information, technology, markets and research that might assist a team in planning the profitable operation of their businesses.
  • Facilitate networking and mentoring opportunities.

Resource Information Dropdown List (PDF)

 

Gather pertinent information on financing and business plan ideas from FAME (Finance Authority of Maine)

Business and Education at work for Maine

FAME is an independent state agency that develops and administers programs related to the financing of both higher education and business in the State of Maine.

The business mission at FAME is to help Maine businesses grow, expand and succeed.

The website offers the following free resources, samples of, and information on:

  • Writing a Business Plan
  • Balance Sheets
  • Cash flow Statements
  • Income Statements
  • Financing/Accounting Glossary

FAME
5 Community Drive
PO Box 949
Augusta, ME 04332-0949
http://www.famemaine.com/index.html
Email : info@famemaine.com
Toll-Free: 1-800-228-3734

Gain free knowledge and expertise from successful business professionals
with SCORE

 

The SCORE Association (Service Corps of Retired Executives) is a nonprofit association dedicated to entrepreneur education and the formation, growth, and success of small businesses nationwide. SCORE is a resource partner with the U.S. Small Business Administration.

Volunteer counselors, whose collective experience spans the full range of American enterprise, share their management and technical expertise with both present and prospective small business owners. The Score chapter in Portland, ME (#53) is one of many in the state. The association has many benefits, including a free 90minute service meeting to discuss your particular needs and ideas, while also providing free counseling and low-cost workshops in the community. Score uses the skills of both working and retired executives and business owners who donate their time and expertise as business counselors.

SCORE Chapter 53
100 Middle Street
East Tower, 2nd Floor
Portland, ME 04101
http://www.score.maine.org/
Phone: (207) 772-1147
Fax: (207) 772-5581
Email: score@score53.org

Decrease costs and alleviate wasted time with the Portland Business Center

Portland Business Center provides innovative solutions for both small and large businesses and home-based businesses. All of their services allow businesses to enhance flexibility, yet at the same time increase their profitability. Portland Business Center is committed to running the office for its members effectively and efficiently so they can run their business successfully. Portland Business Center is an easy way to start a new business and a great way to grow an existing business.

The Center offers alternatives to purchasing buildings and high rent. This company is helpful for start-ups as it allows the people involved to focus on the business itself and not have to worry about secondary issues. The Center can help consolidate, and or alleviate, your total payables, which will allow for greater savings and investment into your company.

Portland Business Center
480 Congress Street
Portland, ME 04101
http://www.portlandbusinesscenter.com/

Toll Free: 1-877-247-0852

Phone: (207) 699-2555

Fax: (207) 699-2565

Email: info@portlandbusinesscenter.com

Help get your questions answered at the Maine Technology Institute

Established by the Maine Legislature in 1999, the Maine Technology Institute ( MTI ) is a non-profit organization created to encourage, promote, stimulate and support research and development activity leading to commercialization of new products and services in the State's technology intensive sectors.

The goals of MTI are to:

  • Contribute to the long-term development of a statewide research, development and product deployment infrastructure.
  • Enhance the competitive position of Maine's technology intensive industries.
  • Support clusters of industrial activity and create jobs for Maine people.

MTI can be a benefit to the teams as it also lists professionals within each major work sector who are available for comment, contact or advice. MTI provides information on grants and funding for Maine businesses, while answering your most basic questions on financing.

http://www.mainetechnology.org/
2E Mechanic Street
Gardiner, ME 04345

Phone: (207) 582-4790

Fax: (207) 582-4772

Gather financing for your company with the Small Enterprise Growth Fund (SEGF)

To provide resources to attract, support and develop eligible small businesses that will contribute to the prosperity of Maine

 

SEGF encourages economic growth in Maine by supporting creative and viable companies that can demonstrate a potential for high growth and public benefit.

The SEGF provides state-funded money to help start small businesses. The SEGF website can provide your team with:

  • Sample balance sheet, cash flows and income statements
  • How to write a business plan
  • Funding for small businesses for continuation or start-ups

Small Enterprise Growth Fund
P.O. Box 619
Augusta, ME 04332-0619
Toll Free: 1 800 228-3734
Phone: (207) 623-3263
Email: info@segfmaine.com
http://www.segfmaine.com/

Learn more on financing and controlling your company investment at the Maine Department of Economic and Community Development (DECD)

The DECD offers programs and resources in the business development area. Run by the State of Maine, the DECD provides information on financing and loans and can help guide your team in the right direction. Plenty of information is available at this site pertaining to: amortization schedule s, c ash flows, balance sheets, profit/loss statements and a schedule of liabilities . The DECD website will also be beneficial to each team as it:

  • Offers resources and incentives for Maine businesses
  • Provides information and assistance on regulatory, labor, financing and other business matters
  • Helps new and expanding small businesses identify state licensing and permitting requirements
  • Assists Maine firms with their expansion plans

Maine Department of Economic and Community Development

http://www.econdevmaine.com/
Burton M. Cross Building
111 Sewall St., 3rd Floor
Augusta, ME 04333-0059
Phone: (207) 624-9800


Office of Business Development DECD (a division of Maine Department of Economic and Community Development)

http://www.econdevmaine.com/biz-develop.htm

59 State House Station
August, Maine 04333
Phone: ( 207) 624-9804

Learn about business planning and polish your pitch by seeing real business plan presentations at the Maine Investment Exchange

 

Students participating in the USM Student Business Plan Competition are invited to attend The Maine Investment Exchange (MIX) business plan presentations. MIX was created in 1996 by Maine & Company and is supported by private businesses throughout Maine. The organization was established to provide forums for qualified entrepreneurs seeking risk capital to make formal presentations to providers of risk capital. This provides an opportunity for qualified entrepreneurs to meet potential investors. Attendees consist of angel investors, venture capitalists, bankers, attorneys, accounting firms and consultants. It is estimated that 15%-20% of the presenters have received funding, directly or indirectly, as a result of the MIX forums. MIX offers students a great way to learn more about creating and presenting a business plan while meeting venture capitalists in the community.

Maine & Company
120 Exchange St., PO Box 7462
Portland, ME 04112-7462
207-871-0234
www.maineco.org

 

For more information or an events schedule, please e-mail Gail Pfeifle atadmin@maineco.org.

Learn about the legal aspects of starting a business

The Technology Law Center
44 Oak Street
Suite 200
Portland, Maine 04101
207-874-6521

The University of Maine School of Law offers advice, assistance, and education regarding patents and intellectual property law to all competition participants through the Technology Law Center. The Technology Law Center can help teams by:

• Conducting online patent searches
• Conducting online trademark searches
• Assisting with copyright and intellectual property protection
• Offering advice on protecting trade secrets

For more information please contact Rita Heimes Logan at rlogan@usm.maine.edu.

Tips for writing a successful business plan

The following questions may be helpful when evaluating a business idea and writing a business plan (these questions are likely to form the criteria used by judges to judge competition business plan):

1. Is the business based on a clearly defined, justified, and researched opportunity?
2. Does the business opportunity serve an attractive market?
3. Is the business concept realistic?
4. What is the size of the market? How does your product or service serve this market? How can you reach this market?
5. What is your business model? How will you make money from this product or service?
6. Who are your competitors?
7. What is your competitive advantage?
8. How is your product or service unique? Can competitors easily imitate your product or service? How will you protect your business from competitors?
9. Who are the customers you will target? How will you reach these customers? What is the value of these customers to your business? What is your positioning and segmentation strategy?
10. How will you develop and market your product or service? How long will it take to breakeven?
11. What is the required capital investment to start the business? Are financial projections realistic and based on solid-analysis? How can you support these projections and analysis?
12. Who will manage the business? What experience do these people have in managing a successful business? Why will these managers be successful in managing this business?
13. What are the proposed sources of capital? How will investment money be spent? How will investors be paid back? How long will it take to pay investors back?

Recommended Readings located at Center for Entrepreneurship and Small Business

(68 High Street, Portland, Maine). Please call 207-780-5919 for more information.

• “Taking your Business Global” – Wilfong and Seger
• “The Maine Guide for Small Business” – College of Business Administration, University of Maine
• “In Search of Excellence” – Peters and Waterman
• “Credit Management: Principles and Practice” – Gahala
• “Tips and Traps for Entrepreneurs” – Price and Allan
• “The Business Owner’s Basic Toolkit for Success” – Hartley
• “The Financial Success Source Book” – American Bankers Association
• “A Basic Guide for Valuing a Company” – Yegge
• “Self-Defense Finance for Small Business” – Yegge
• “A Basic Guide for Buying and Selling a Company” – Yegge
• “Small Business Owner’s Manual” – Entrepreneurs Magazine
• “Guide to Retail Business Planning” – Purdy
• “FastTrac New Venture Workbook” – Kauffman Center