JCI Malta takes 2007 BBP award to new level

This year, JCI (Junior Chamber International) Malta is taking the Best Business Plan (BBP) award to a new level, providing participants with a structured platform. The winner of the event will automatically be entered into JCI's Best Business Plan competition and will also win Lm1,000 in cash.

The runner-up will receive Lm250. Finalists in the competition will be invited to attend the 2008 JCI World Congress, with the chance of winning a further $5,000.

JCI Malta is providing a compulsory training session where participants will learn how to structure a business plan and also discuss how to approach the seven main sections of a fully fledged business plan (executive summary, business description, the nanagement team, business strategy, market analysis, scenario planning/critical success factors and financial projection).

Trained people will be giving input on their specialised areas.

Following the training session, participants will have the opportunity to benefit from consultancy time in the main areas of a business plan. Participants will be able to have one-on-one meetings with these key individuals.

For the first time in JCI Malta's history, the participants' business plans will be presented to potential investors. This will be offered either via the recently-launched Malta Venture Capital Fund or through other co-financing entities, meaning that their business idea may become a reality, if professionally presented.

JCI is an independent, worldwide federation of young professionals and entrepreneurs aged 18 to 40. It is one of the largest networking organisations worldwide and is present in over a hundred countries.

JCI Malta was established in 1994. It aims to be the recognised organisation that is the forum for the development of bold, stimulating leaders within our community. It meets at local, national and international events to exchange ideas and share best practices.

The BBP award was first launched in 2001, where young entrepreneurs are provided with the tools and opportunity to turn an idea into a business plan.

The application period for this year's event remains open until April 12, by which time potential participants are to indicate their intention to participate. Anyone interested should log on to bbp@jci.org.mt, fill in the application form and send it to 1, Crystal Court, Msida Circus, Msida MSD 06.

The application form must be submitted together with an executive summary. The summary is a mini-plan of your business plan. The panel of judges will first read your executive summaries to get a snapshot of your business and gauge your professionalism and the viability of the participants' business.

The executive summary must not be seen as a section of the business plan, which cannot be refined for the event, but the final version of the summary must not vary in principle to the one being submitted on application.

The executive summary should include the company profile, the nature of the product or service being offered, make-up and background of the team, and financing requirements.