No fly-by-nighters need apply

Few actually reach that magic goal, but Hawaii's young entrepreneurs are well on their way.

The federal Small Business Administration recognizes these elite through the Young Entrepreneur of the Year awards, which this year were presented to Tao Miller of T.M. Pacific Co. Ltd. (City & County of Honolulu winner) and Shakil Ahmed of PDC Systems (State winner). There were no qualified applicants from Maui, Kauai or Hawaii counties.

"Our awards here are so competitive. You cannot find better candidates," said Jane Sawyer, assistant director for business development with the SBA.

"First of all, they have to be under 30 when they receive the award, and they would have had to run their business successfully, profitably, for at least three years.

"We get more nominations than any other state for this category."

And you'll find no fly-by-night POG outfits among the competitors. Nominations, generally taken from August to early November, were evaluated on:

• Evidence of success as measured by sales and profits. (Nominations must include profit-and-loss statements and balance sheets for the past three years.)
• Increased employment opportunities created by nominee's business.
• Development and/or utilization of innovative or creative business methods.
• Demonstrated entrepreneurial potential necessary for long-term business success and economic growth.

"They tend to come from places where economic conditions are the best and rising, because their financial statements look the best," he said.