$50K Lander Business Challenge

 Victoria Fregoso reports, vfregoso@k2tv.com 

 If you've been thinking about opening a business in Lander, now might be the time. A group of private investors are putting $50,000 on the line to encourage economic development.

Dozens of small businesses line Lander's Main Street.
It's plain to see, these small businesses play a big role in Lander's growth.

"It's a very attractive component to our community and small businesses are really important to our nation as well. They represent about 80% of business that takes place in the country," said Gary Michaud, the Community Resource Coordinator for Lander. 

But a group of private investors want to see even more businesses open in Lander.

"And they wanted to find ways to promote economic development and bring jobs to Lander and bring dollars from outside our community to inside our community."

This is where the $50K challenge comes in.
Individuals or groups that are dreaming big of owning a business have a chance at $50,000 of cash equity.

"The $50,000 will be provided in equity. Which means an ownership stake in the business but it also enables the business to leverage loans and funds for their business." 

The application process starts with a three page proposal, which includes information like revenue and expense projections, market research and how the business will create economic development in Lander. Entries are due by May 27.

"We're also hoping that we can get businesses that are going to grow and be in Lander for a long time and continue to grow and create a lot of jobs and a lot of sales and bring a lot of revenue dollars into our community."

The challenge is open to all business types.

"We don't want to hinder ourselves with the possibilities. So we're really open, we hope people will consider putting in proposals and we're excited about that."

Click here to learn more about submitting a proposal.