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Trenton launches downtown business competition
Matthew Fazelpoor//May 17, 2023
A new Downtown Trenton National Preservation Program (NPP) Business Plan Competition was announced this week, aimed at promoting economic growth and development in the area.
The competition is a collaboration between the Downtown Trenton NPP, the City of Trenton, and the New Jersey Small Business Development Center (NJSBDC) at The College of New Jersey.
Organizers say the program will provide local entrepreneurs with an opportunity to grow their skills and showcase their innovative business ideas. It is open to local innovators not yet operating in Downtown Trenton.
“This is a fantastic opportunity to stimulate the local economy, which can support and empower Trentonians to own their own businesses in our great Capital City,” said Trenton Mayor Reed Gusciora. “I encourage all local entrepreneurs to consider competing in the Downtown Trenton NPP Business Plan Competition this year.”
The competition is open for entries until June 30. To be eligible, participants must meet at least once with an NJSBDC business development expert (in-person or virtually by Aug. 31) and submit a business plan (by Sept. 5) outlining their vision for a new downtown business, including details such as: target market, marketing strategy, financial projections and more.
Judges will select and announce two winners by Oct. 31 who will receive $5,000 toward leasing downtown space for their businesses.
The winners will also receive free business development support and assistance from the NPP Project Team and be eligible to receive loan and grant support from Trenton’s Urban Enterprise Zone (UEZ) program.
“We are thrilled to launch this competition and support local entrepreneurs in Trenton,” said NPP coordinator Chris Shimchick. “We believe that by providing entrepreneurs with resources and funding, we can help revitalize the local economy, reactive vacant properties, and support a vibrant, thriving community in downtown.”
Applications and more information on the competition can be found here.
