Young entrepreneurs in Colorado may have a chance to participate in a competition to showcase their original ideas and compete for a monetary prize. The deadline for applications for the 2006 Celebration for Young Entrepreneurs is June 15. Children and young adults, ages 6-21, who have a business are invited to apply. Winners will be announced on September 21, 2006. This is the fifth year for the competition.

Winners from each category are awarded $1,000, and finalists will receive $250. The approved applicants will work with a mentor who will help them to complete their presentation.

One applicant is Bags by Alex P., this enterprising teenage took her boredom and replaced it with a business. While sitting around bored one day, she decided to take her old jeans and create a purse. The idea was so clever that her bags are featured in a Denver area boutique.

This sounds like a wonderful opportunity for kids to learn about the many details of running their own businesses. The many details and hard work required to keep a business alive and productive are vital skills to acquire.