$43,500 Cash Prize Winners in Galax Downtown Business Competition

$43,500 Cash Prize Winners in Galax Downtown Business Competition

The City of Galax and the Galax Industrial Development Authority announced cash prize winners from its Downtown Business Competition. The City had received a grant award from the Department of Housing and Community Development in their Community Business Launch program.
Thirty-five entrepreneurs representing 21 businesses attended the classes. 15 businesses completed the course. The entrepreneurs learned about market analysis, operations plan, financials and cash flow and future plans for growth. To be a part of the competition for cash prizes, the businesses have to locate in Downtown Galax. The entrepreneurs had to prepare business plans, answer questionnaires, and pitch their ideas. Twelve judges separately rated and scored the businesses from either their business plans, pitches or questionnaires.
The winners are:
Runners-Up:
Phoenix Graphics – $3,500;
The Leaf – Vittles and Libations – $3,500; and
David’s Tacos – $3,500.
Third Place:
Galax Xtreme Fitness, 123 West Grayson Street – $8,000.
Second Place:
Wild Pony Brewery, 117 East Grayson Street – $10,000.
First Place:
StudioBConcepts, 211 South Main Street – $15,000.
Mandy Archer of the Blue Ridge Crossroads Small Business Development Center acknowledges that she is proud of the hard work of each of the class participants. “All have done such a great job.”
One class participant was especially eager to share a new awareness of community resources including the Blue Ridge Crossroads Small Business Development Center. “We never realized the valuable input that this free resource could have in shaping our business skills,” says Galax Xtreme Fitness owners, Rick and Crystal Whisenhunt. If you are interested in starting a new business or expanding your current business, please contact the Blue Ridge Crossroads Small Business Development Center at 601-7727.
The City of Galax is delighted that this grant award will establish and support new businesses in Downtown Galax. Since 2011, the City of Galax has aggressively pursued grants for various projects and has been successful in grant awards totaling more than $15.8 million dollars. Grant funds have been used for building new infrastructure, new programs, staffing, equipment, and training.