It's that time of year again for local high school students to make their business ideas a reality.

The Region's Business Development division is now accepting submissions for the Province's Secondary School Business Plan Competition.

The initiative gives high school pupils the chance to create a business plan and compete with students throughout Ontario for cash awards.

The deadline for schools to submit business plans is this Monday.

"With 88 per cent of private sector enterprises in Halton having fewer than 10 employees, small business is at the heart of the Halton economy," said Regional Chair Gary Carr.

"This competition provides students with a great opportunity to explore the world of entrepreneurship and to see first hand the valuable role innovation plays in the business world."

The competition requires students to submit a plan for either a real business they intend to start or an idea for one.

The entries will be judged by a panel of program sponsors and business leaders and cash prizes will be awarded to the top five business plans.

The first place winner will advance to the regional round where he or she will compete for additional prize money.

The competition is offered each year by the Ontario Ministry of Small Business and Entrepreneurship (MSBE). The Region's Business Development Centre holds the Halton RBC Business Plan Competition in partnership with MSBE.

RBC is Halton's local sponsor of cash awards for the competition -- a total of $3,000.

All students and schools that submit a business plan will be celebrated at an evening dinner and awards ceremony on Wednesday, June 11 at the Halton Regional Centre.

To learn more about the competition call the Halton Region Business Development Centre at (905) 825-6000 or visit www.halton.ca/business.