Studers offer $25,000 business challenge in Century


  • December 9, 2014
  • /   Mollye Barrows
  • /   studer-community-institute
Quint and Rishy Studer are donating $25, 000 to help jump start business and create jobs for the struggling community of Century. The announcement for the Century Business Challenge was made Monday night at the Century Town Council meeting. “This will be a lot like the Pensacola challenge,” Quint Studer said.  “When we looked at what happened in Pensacola, more than one business was created as a result of the process.” In 2011, the Studers supported a similar event for local entrepreneurs who wanted to start or expand a business in downtown Pensacola. Contestants put together business plans and pitched them to local business experts who selected the best one. The winning contestant received a startup fund of $25,000, plus a three-year lease with the first year rent-free. That business, Carmen’s Lunch Bar, is a downtown restaurant that continues to thrive. Several other entrepreneurs also started new businesses as a result of the free consulting sessions. Studer says the goal is to create more jobs through the growth of small businesses. Century is the poorest town in the state with a poverty rate of more than 40 percent and most of those at or below the poverty line are single mothers. “The issue is jobs,” said Studer. “When you look at the number of single parents, the more we can get them working in Century, the better it will be for families.” Details on how it will work are still forthcoming, but the process is expected to start soon. Administrators of the challenge are working with the town to find space for the winning contestant to launch their business. The University of West Florida Haas Center for Business Research & Economic Development just hired Allison Tyler to oversee implementation of the town’s economic development plan. She says the addition of the Studers’ business challenge can only help their efforts. “This is a great opportunity for people who had that dream, but no way to pursue it,” said Tyler. “Now they have a chance.”
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