As tough as it may be, take a break from the stresses of this dismal economy. Entrepreneurship is alive and well in South Florida, and The Miami Herald Business Plan Challenge celebrates that spirit.

Now is your chance to enter our annual business plan competition. Your plan will be judged by a team of local business experts on originality, creativity, clarity … and, especially, viability.

Throughout this site, read about the progress of last year's winners: Jennifer Herskowitz, first-place winner for the Allergy-Free Shop; Robert Holtzman, second place, who wants to start an online travel site for people with disabilities; Shea Novakovic, third, whose Fort Lauderdale company would allow customers to donate the remaining dollars and cents on their gift cards right at the cash register; and Anthony Lisiewski and his Barry University classmates who developed a retractable leash for walking two dogs at once.

All of last year's winners, in one way or another, came face to face with the reality that funding a start-up is never easy. Novakovic lost her biggest investor. Lisiewski needs additional funds to begin the patent process. Holtzman's discussions with a travel partner he hoped could help with start-up costs went nowhere. Herskowitz struggles under the weight of running a fledgling business.

So make sure you pay plenty of attention to the financial part of your business plan.

Fernando Capablanca, a returning Business Plan Challenge judge this year and president and chief executive of Union Credit Bank in Miami, frames the funding issue this way:

"Do you have a bright idea for a new product? Last year, 448,003 applications were filed with the U.S. Patent Office by people who felt the same way as you do. Some of these no doubt will be future Xeroxes and Googles, making you rich and famous. Unfortunately, the vast majority will stay in a drawer and never come to see the light of day. Why? The overwhelming reason businesses fail or never get started is lack of capital. ... Creating the product is only the first step and only a small step in the ladder of success.''

Also complicating matters is the credit crisis, which has tightened lending. Start-up companies are also finding they need to retool their plans. But we're ready to help. In coming weeks, look for Business Monday stories on financing and how to write a business plan.

Here's another lesson previous winners have learned: "It takes a team. You cannot do it alone,'' said Rafael Cruz, regional director of the Small Business Development Center in Broward County and also a judge this year.

You also will need your friends and family for support and to get the word out about your venture. Says Beatrice Louissaint, president and chief of the Florida Regional Minority Business Council and also one of our judges: "Tell somebody, everybody and anybody about your product or service.''

This contest can help you do that. If you are one of our winners, your business will be featured in a Business Monday cover story.

So get started. Sit down, dream a little, do your homework and create a business plan. That way you'll be ready when the economy turns. Remember, some great companies were launched during recessions or depressions: General Electric, Hewlett-Packard, Microsoft and Southwest Airlines, just to name a few.

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