SAN ANGELO, Texas (Concho Valley Homepage) — The San Angelo Development Corporation and Angelo State University Small Business Development Center announced this year's San Angelo Business Plan Competition Winners. 2024's first-place winner is Rankin Transmissions.

Rankin Transmissions Coowner Stephen Mclaughlin said, "To focusing and really build out a business plan forces you to identify things and become knowledgeable to a greater depth than you were before so I encourage anybody to join this thing always have because you get so much help, and support, and knowledge that by the time you got through the process, you've already won whether you win this part or not."

The small business plan competition is an annual event open to entrepreneurs wanting to develop a new business or expand an existing one in San Angelo. First place comes with a $50,000 grant. McLaughlin noticed a shortage in automatic transmission experts in the United States and his business plans to solve the decline.

He told us, "What that money is going to be used for is specifically to buy parts to build an inventory of transmissions that we will be selling wholesale to other shops, general repair shops, in the southwest United States."

His business plan will create more jobs in San Angelo, and he expects to build the transmissions in 6 months. Angelo Donuts and Kolaches took second place and won a $30,000 grant. The Canine Resort and Daycare took third place and won a $20,000 grant.

The 2025 San Angelo Business Plan Competition launches in the summer of 2025. For more information about the San Angelo Business Plan Competition and the Angelo State University Small Business Development Center, visit www.angelo.edu/community/small-business-development-center/

News Source : https://www.conchovalleyhomepage.com/news/local-news/2024-san-angelo-business-plan-competition-winners-announced/