THUNDER BAY – Young entrepreneurs often face their greatest challenge when their company reaches a turning point—a moment when the right move will put their business on a new trajectory to success. Whether it’s making a major investment, attacking a new market or engineering a strategy shift, an entrepreneur whose business is at a crossroads has to use all his or her skill to choose the right path and lead the way forward. 

BDC helps young entrepreneurs

That’s why the Business Development Bank of Canada (BDC) is focusing on turning points in this year’s BDC Young Entrepreneur Award contest. 

BDC is inviting Canadian business owners, aged 18 to 35, to apply and compete for the $100,000 Grand Prize and a second prize of $25,000 in consulting services. To enter the contest, participants must fill out the online application form and create a short video (1 to 2 minutes) describing a decisive moment their business has reached and the solution they propose to take their business to the next level. 

Eleven finalists will be selected from across Canada—one from each province and one from the territories—and then Canadians will vote online to select the winners.Please keep in mind that the proposed solution must not be implemented yet.

The $100,000 Grand Prize is intended to help the winner through the change process.

The contest is open to all Canadian entrepreneurs aged 18 to 35 as of December 31, 2012. Entrants must be Canadian citizens or permanent residents responsible for the daily management of a Canada-based business for at least two years as of December 31, 2012, and must hold at least 20% of the company’s capital stock. 

Applicants are asked to create a short video describing a turning point their business has reached and the solution that will help them achieve future growth. This video – which need not be professionally produced – should clearly explain the turning point solution, have good image and sound quality and be memorable. All entries have to describe a project that has yet to be implemented.

Application period ends April 2, 2013 at noon, Eastern Daylight Time. 

Are you a young entrepreneur whose business has reached a crossroads or do you know someone who fits that description? Apply today or encourage someone to apply!For updates about the contest follow BDC on Facebook, Twitter and LinkedIn.