Young entrepreneurs come in many forms.
Some are at the helm of startups they invented themselves.
Some have bought into existing businesses. Some are taking the reins from parents passing it down or original owners bringing them on as partners.
The Business Development Bank of Canada is a federal financial institution dedicated to fostering the nation's economy one business at a time.
They have a menu of programs to advise entrepreneurs, help with business-related research, even some lending of money - for all ages and profiles - but one of their services is an annual contest just for those aged 18 to 35.
As long as you have run or managed significant parts of your business for two years or more, and as long as you have at least a 20 per cent ownership stake in the business, you are eligible.
"One of the most important things we do is reach out to young entrepreneurs," said Sandra Rose, manager of the BDC's Prince George business centre.
"We exist to develop small and medium-sized businesses, help them grow, expand, be sustainable. Young entrepreneurs often don't have access to mentorship, the often haven't built up their experience yet, or they don't have the same resources that more established business people might have. We are here to help."
The contest offers an incentive to go through an application process.
Should your entry end up as the provincial champion - and there have been three different cities represented in the past three years - and vie for the national title, that comes with benefits.
However, said Rose, the act of entering has its own benefits.
"Whether you win the grand prize or not, there is still success in completing the entry for this contest," she said.
"The win is the fact that you have taken a good look at your business objectives and created a plan to achieve them."
But the top prize is quite substantial, she added: $100,000 in BDC business development consultation services.
That's enough to give your firm a solid makeover.
The BDC approaches the business department at the city's education institutions, the Chamber of Commerce and other portals into the world of the young entrepreneur.
Contestants always emerge from Prince George, but Rose wants to see more entries from this region since so much business momentum has been focused here with the StartUp PG movement underway, a retirement wave going on in the business realm and private sector opportunities emerging from the natural resources industries.
The contest has a theme, to help contestants define their applications.
"Tell us how you plan to tackle your business's turning point," said the BDC instruction form.
Rose said that was to get entrepreneurs thinking about what their business is right now, what the goals are, and how to get there.
"Think about what would change the game for your business.
"For some it is making a decision to expand the workforce, or buy more equipment, maybe focus on building a digital presence, downsize, change products... What is it for you that would push your business to the next level?
"Describe a turning point your business has reached and propose a solution that could take your company to the next level."
The Prince George office cannot help contestants fill out the contest documents, but they are available for answering general questions and to encourage those eligible to give it a try.
The contest is now open, with an application deadline of March 18.
A provincial winner will be determined from within the pool of applicants, and that winner will be asked to create a video synopsis to include in the national round of the competition (public online voting makes up a portion of this round's results).
As some added encouragement, Rose said the national runner up the last three years in a row has been the B.C. entry.
To learn more about the 2015 BDC Young Entrepreneur Award visit the official contest website at www.bdcyoungentrepreneuraward.ca.
