Unlock your business potential with the Growth Plan Challenge. 

A growth plan competition is a contest where entrepreneurs and businesses present their growth strategies and business plans to a panel of judges for a chance to win prizes and funding.

The competition is open to Business Owners only. This means you need to be a owner of a registered company.  It is not necessary to be revenue making, though it would be useful.

Firstly, you get lifetime access and a free account on GrowthWheel platform. You get trained to use GrowthWheel for free from accredited trainers. Data is not provided.

Secondly, you have access to coaches and mentors to prepare your Growth Plan.

You can also prepare your company profile on GrowthWheel, changing it as the company evolves.

GrowthWheel help you to think ON the business and prepare a roadmap for its growth. Making the Growth Plan is much easier than making a Business Plan.

And of course, you prepare yourself to be ready for growing your business through funding, winning prizes and networking.

Go to www.growthplan.co.za.

Register on the website with your details. Once validated, you will get access to a GrowthWheel account. Thereafter, you attend training and then submit your Growth Plan.

Selected Growth Plans will be invited for funding and further support.

There is no application fee. Entry into the competition is free.

• Your Company Profile (Where are you)
• Ambition / Goal / Targets for your business (Where do you want to be)
• Decisions and Actions required to achieve the goal (How do you get there)
• A 30-60-90 day plan for your business and the team.

The first round consists of selecting Growth Plans by a panel of judges. Eligible businesses will be invited to pitch their business to a panel of judges.

There may be a round of due diligence if you are applying for funding.

Finally, prizes (cash and kind) will be announced.

Prizes can vary widely, but they may include cash awards, investment opportunities, mentorship, access to resources, or in-kind support like marketing services or office space.

After winning, you'll likely be expected to fulfil any requirements set by the competition organizers, such as using the prize money for specific purposes or reporting on your progress.

It depends on the terms and conditions of the competition. Some competitions may take equity in exchange for funding, while others may offer grants or loans without taking ownership.

Some competitions offer mentorship, workshops, networking events, and access to industry experts to help participants refine their growth plans.

You should be cautious about sharing sensitive information. Many competitions have confidentiality agreements in place, but it's essential to understand the terms before participating.

Rules regarding team size can vary, so check the competition guidelines. Some competitions may have limits on the number of team members or require a minimum number.

Following are the deadlines for the competition:

Announcement of the competition: 1st November 2023

Training Session : 15th November 2023

Submission of Growth Plan : 31st December 2023

Announcement of Shortlisted Growth Plans : 30th Jan 2024

Pitching Training : February 2024

Pitching Competition : March 2024

The pitches should follow the Growth Plan. It can be updated where necessary, if there have been changes.

Some competitions may require winners to report on their progress, use of funds, or other milestones achieved as a result of the competition.

Even if you don't win, participating in a growth plan competition can provide valuable feedback and exposure. Many successful entrepreneurs didn't win their first competition but used the experience to improve their business plans.

Be clear about where you want to take your business, and how. But more about that in the training sessions.