The Haywood County Chamber of Commerce announced last week that it will award a $10,000 grant to an entrepreneur with a start-up business idea in Haywood County.

The economic development initiative is funded entirely by donations from the private sector and could become an annual event.

The grant program will benefit more than just the recipient. It will send a message to entrepreneurs that Haywood County is a supportive and nurturing atmosphere for small businesses, according to Scott McLeod, the publisher of the Smoky Mountain News and chairman of the chamber’s Business and Community Development Committee, which is spearheadeding the program.

“Small companies and small businesses are an integral component of the economic future of the region,” McLeod said. “We want to provide real tangible help to people who want to locate their business here.”

For years, the chamber of commerce has billed the region’s quality of life as a drawing card for entrepreneurs who are no longer limited to metro areas but can launch their business anywhere thanks to technology. The idea of established businesses in a community rolling out the red carpet for start-ups is fairly innovative, according to economic development experts.

“None of this would be possible without the sponsors that stepped up to the plate,” McLeod said. The sponsors are Haywood Regional Medical Center, First Citizens Bank, Progress Energy, Smoky Mountain Development Corporation and BB&T.

Haywood County Commissioner Mark Swanger lauded the program.

“The impact to our economic fabric of start-ups cannot be overstated. They are the key to our economic future,” Swanger said.

Applicants for the grant are encouraged to go through hands-on entrepreneur workshops like those offered by the Mountain Microenterprise Fund or Haywood Community College Small Business Center that help participants develop a business plan. A side product — albeit an intended one — is that even applicants who don’t get the grant will still be better off for going through the business planning process.

“It’s a statistical fact that most new business fail due to a lack of business planning and the financial resources to promote their business. This program will encourage individuals who would like to start a new business get help in developing a sound business plan for that new business,” said Darrell Douglas, former chair of the chamber’s Business and Community Development Committee who helped hatch the idea for the competition.

Haywood County Economic Development Director Mark Clasby said the grant program has been three years in the making and is very exciting.