Graduates of online universities may win business plan competitions

Graduates of online universities may win business plan competitions

Individuals who have completed online degree programs in business may participated in entrepreneurial competitions, such as the one hosted by Salem State College.

The Massachusetts-based school has opened the entry process for its 2010 Business Plan Competition, which will allow entrants to compete for cash prizes.

Small business owners whose companies are less than three years old and are projected to employ at least five people over the next two years are invited to enter the contest. Applicants must also commit to basing their businesses in the Essex County or Merrimack Valley areas of Massachusetts.

Qualified entrepreneurs can enter the competition by submitting an entry form, business plan and an executive summary of their company.

Salem State's Executive Center will put together a panel of judges comprised of early stage investors and bankers to select the winners.

The grand prize winner will receive $5,000, while the second place awardee will win $3,000, and $2,000 will be given to the recipient of third place.

Individuals who wish to start their own companies may consider enrolling in online courses that can help them make wise business decisions in their entrepreneurial pursuits.