Local LGBT chamber of commerce Independence Business Alliance earlier this month opened its new awards program that will provide $5,000 to a local business, the first of its kind in the nation.
IBA is partnering with PNC Bank for the inaugural PNC LGBT Business Award, the only such program offered by a local or regional LGBT chamber of commerce. Applications for the award are being accepted until March 31, and the winner will be announced in June.
The award money is meant to fuel the implementation of a company’s business plan, and IBA is offering a workshop next week to help small businesses construct and improve such plans.
The workshop, “Keys to Business Planning,” will be held from 5-7:30 p.m. March 2 at Temple University’s Alter Hall, Suite 503, 13th Street and Montgomery Avenue. The event is open to IBA members and non-members.
Jaine Lucas, executive director of Temple’s Innovation and Entrepreneurship Institute, will lead the workshop, which will focus on the importance of a business plan and key components of common plans.
All workshop participants will receive a free copy of the book “Write a Business Plan in No Time.”
IBA president Bill Gehrman said the information discussed will be helpful for those interested in applying for the PNC LGBT Business Award — as the application process includes the submission of a condensed business plan — but that the covered material will also be beneficial to any small business looking for ways to sustain itself.
“It’s going to be valuable, not just for applicants but for anyone looking to develop a business plan,” he said. “This idea actually came from Temple when we approached the School of Innovation and Entrepreneurship, and they suggested holding a workshop that will help people applying but also really get this information out there and help all of our members.”
Business owners planning to apply for the award program must be IBA members in good standing, in business for at least three years, operate a privately held company and be over age 18.
Gehrman said the IBA board has been reaching out to a number of eligible candidates, and he expects at least a dozen businesses to compete for the award, which he anticipates could become an annual program.
“Our plan is for this to be the first of many years of this award. PNC has committed to this first year and we’re hoping that if all goes well, they will be a partner for years to come.”
Seating is limited at the workshop, which is $25 for IBA members and $40 for non-members.
For more information or to register, visit www.IndependenceBusinessAlliance.com , e-mail [email protected] or call 215-557-0190.
Jen Colletta can be reached at [email protected].