If you have a great small business idea that has been floating around in your head and you needed an excuse to write it down and organize it, that time has come.

There is a new contest called "Idea Wins: The Ultimate Challenge" that is searching for the most creative small-business idea in the US. The winner of the contest will receive rent free retail store space in New York for a year plus $100,000 seed money to get the small business going.

All you need to do to enter the contest is submit an application. Submissions will be judged on marketing approach, financial & logistic feasibility, originality and public interest. January 31 is the deadline for submitting the application and the finalists of the contest will be notified on February 9.

This is an excellent opportunity to get any small business idea you have organized and I highly encourage you to apply. The application process will help you think through your idea in more detail which will benefit you even if you don't win the challenge. Go for it and best of luck.