On Wednesday, March 4th, I received some very exciting news! JuniorBiz was accepted to compete in the 2009 Colorado State University Venture Adventure Business Plan Competition. As far as I know there will be 16 teams competing for a top prize of $5000! The competition will take place on April 17th and 18th in the College of Business at CSU.

Needless to say, I would love to have people come and watch. If you’re interested, you should let me know and I can provide more information. The excitement aside, I still needed to move towards my objectives for the week.

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Typically when you first start a business, it is considered to be a sole proprietorship. Meaning, you are the sole owner and 100% responsible for your business.

In other words, if you damage someone’s property or sell a harmful product, then you are completely liable. Then your customer can sue your business and may be entitled to your personal savings.

To prevent this and become legitimate, you should file your business as a Limited Liability Company (LLC).

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The second week of the JuniorBiz Project Charter has come to an end. This week was just as busy as the previous, and I didn’t mind at all!

Again, my 5 objectives are to finish the guide, increase traffic, boost my online presence, add content, and expand the local awareness of JuniorBiz.

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Lemonade stands, lawn mowing services, and babysitting services are not the only options for young entrepreneurs. An entrepreneur is someone who starts a business. There are plenty of other things young people can do to make money. We have compiled a list of several JuniorBiz ideas below.

If you want even more business ideas, check out 100+ Teen Money Making Ideas for Young Entrepreneurs.

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