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The Canadian Youth Business Foundation (CYBF) announced today the launch of the 2012 CYBF Chairman’s Awards for Best Business, a celebration and recognition of CYBF’s successful young entrepreneurs from across Canada. This year, the CYBF Chairman’s Awards for Best Business will align with the 2nd annual FuEL Awards, a national awards program produced by PROFIT Magazine in association with Impact Entrepreneurship Group. This alliance will allow CYBF entrepreneurs to apply for two high profile and exclusive awards programs with one seamless application.

“Entrepreneurs are the driving force of the Canadian economy and should be recognized and celebrated. Our Chairman’s Awards for Best Business are just one way in which CYBF acknowledges the hard work, dedication and success of our entrepreneurs,” explains Vivian Prokop, CEO of CYBF. “CYBF is the hub of a collaborative network of likeminded entrepreneurial organizations across Canada, with 187 community partners from coast to coast to coast. We are pleased to announce the new strategic alliance between the CYBF Chairman’s Awards for Best Business and the FuEL Awards, a partnership that will elevate the recognition and celebration of Canada’s top young entrepreneurs.”

“The economy of tomorrow is being built by young entrepreneurs today,” says Ian Portsmouth, Publisher and Editor-in-chief of PROFIT Magazine. “It’s important to celebrate and encourage their efforts, and the alliance of the FuEL Awards and CYBF Chairman’s Awards for Best Business will ensure more enterprising young business owners receive the recognition they deserve.”

The 2012 CYBF Chairman’s Awards for Best Business categories reflect CYBF’s investment in and support of businesses at different stages in the business cycle and with differing areas of focus. The categories are:

• Best Emerging Business
• Best Expanding Business
• Best Innovative Business
• Best Green Business
• Best Socially-Minded Business

All Best Business category winners will receive a prize package valued at $2,500.00 per category, including $1,000.. cash and other prizes. Category winners will then move forward to compete for the CYBF National Best Business Award and an additional $20,000 cash prize (CDN), which will be awarded later in the year. Please note that the cash prize portions of the awards packages are privately funded by an anonymous third party.

The competition is open to all CYBF entrepreneurs who have been in business for a minimum of one year – applications are open until June 30, 2012.