The 2003 Young Entrepreneur Award (YEA) competition, now in it's 16th year, is accepting nominations until June 6, 2003. This year's YEA recipients are also eligible for the Export Achievement Award and the Creative Mind Award. Both of these awards come with a $15,000 grant.

The Young Entrepreneur Awards are put on by the Business Development Bank of Canada (BDC). This year's nominees will be judged on the following:

• Operating success over a two-year period including sales, profitability, growth prospects, job creation and market acceptance
• Involvement with new economy activities
• Level of innovation through either products, services, production processes, marketing strategies, or any other aspect of the business
• The business owners level of participation in charitable work, service clubs, and activities that raise awareness for entrepreneurship
• The importance of exporting in the company, including growth, diversity of markets, and quality of export strategy

In addition to this criteria judges will also consider the applicants age at start-up, unique problems or challenges that have been overcome, and longevity. A panel made up of local business owners, board of trade members; business professionals, BDC representatives, and event sponsors will determine one winner from each province and territory.

Winners who received a YEA award between 1988 and 2002 can apply for the Ongoing Achievement Award, given to a company that has managed to sustain growth. The recipient will also receive a $20,000 grant and a free Growth Potential Assessment from the BDC Consulting Group.

The awards will be presented at an awards ceremony in Halifax, Nova Scotia during Small Business Week in October. Interested candidates can pick up forms at all BDC branches or online at www.bdc.ca.

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