In January, First State Community Loan Fund will kick off its 3rd Annual Child Care Provider Business Plan Competition. This year’s marks the first time that Child Care Centers are invited to compete. The purpose of the competition is to increase capacity for child-care providers, which ultimately increases the quality of care that the providers offer. The competition encourages childcare provider participants to write a business plan.
“We are very excited to be able to expand the competition to include Centers this year,” said Hampton. “We would not be able to do it without our lead sponsor the Citi Foundation, who was really a catalyst for this initiative”.
Each provider that enters the competition will be required to write a detailed business plan, which will outline how they plan to use the equity award if they win and how the funds will benefit or improve their childcare business. Technical Assistance Coaches and resources will be provided to all participants. Information sessions will be held in each County beginning in January. The winners will be announced at a formal awards ceremony that will be held at Delaware State University on June 27, 2009! Winners will receive one of two grants in each category: home based – 1st Place $5,000 and 2nd Place $2,500; Center based – 1st Place $5,000 and 2nd Place $2,500.
Eligible providers must be 18 years of age or older, have a Delaware-licensed Family Level 2; Large Family Childcare; or Center based business, and have a State of Delaware business license. The award proceeds must be used to improve the operations and/or quality of care that the childcare provider offers.
Marketing partners for this initiative include the Delaware Family Child Care Alliance and the Family & Workplace Connection. The technical assistance partners for the competition are the YWCA of Delaware Center for Women’s Entrepreneurship, Delaware Small Business Development Center Network, Delaware Center for Enterprise Development (at DSU) and Sussex Technical High School.
Last year’s winners were: 1st place $3,500, Thelma C. Jamison, Our Future Childcare; 2nd place $2,500, Shareda Brown, Precious Years Childcare, Inc.; and 3rd place $1,500, Sharon Williams, Kids Dominion Preschool and Early Learning Center.
To find out more information about the business plan competition contact Delores Lee or Jessica Carmona at (302) 652-6774. @link href=’http://www.FirstStateLoan.org’target=”_blank”>www.FirstStateLoan.org/link.