DETROIT (WWJ) – Time is running out for entrepreneurs to submit their business plans for the 2012 Comerica Hatch Detroit retail business competition before the August 1 deadline.

The contest is open to anyone with an idea for opening a retail business within the City of Detroit.

All applications must be submitted online at www.hatchdetroit.com by August 1, at 11:59 p.m.

Hatch will narrow down the applications received to ten semi-finalists and then the public will vote for their favorite retail business idea.

The winning entrepreneur will receive a $50,000 cash prize courtesy of Comerica Bank to help ‘hatch’ the business. The winner will also receive a package of services including, legal, marketing and advertising, and IT support.

To submit a business plan, applicants must provide a summary that describes their business idea and its potential impact on Detroit, as well as background for each team member.

For complete submission guidelines and contest rules, visit www.hatchdetroit.com.

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