Regional and local newspapers across the country, including the Lancashire Telegraph, today delivered a huge boost to UK business by pledging an unprecedented £15m of free advertising to the most dynamic fledgling enterprises.

The bold initiative, backed by Dragons’ Den judge, Deborah Meaden, is called Local Business Accelerators.

It is being spearheaded by the voice of local media, the Newspaper Society.

Nearly 500 local press publications, including the Lancashire Telegraph, are joining forces to promote the strength and value of local newspapers.

Together, the local press industry will search for the nation’s most promising young businesses and help them accelerate their success.

There will be top professional advice from local business mentors plus a substantial allocation of free advertising space in the publication.

What’s more, one lucky business picked from the hundreds of regional winners will get individual mentoring sessions from the LBA national ambassador Deborah Meaden, who will become a consultant and mentor to the business for one year.

It’s open to all businesses that are active in the local community, between one and three years old and full of potential.

They may have a great idea or product, or even found a new market.

They’re the kind of businesses that will create new jobs and individually they will create pride in the community.

Members of the local business community alongside Lancashire Telegraph assistant editor Nick Nunn will form the judging panel and will review and shortlist entries before awarding three lucky local businesses the prize of free advertising and business advice.

They’ll also be looking out for that one overall star business to put forward to be in with a chance to gain Deborah Meaden as a mentor during 2012.

If you run such a business, or know anyone who does, and want the chance to receive invaluable business support and advertising space in the Lancashire Telegraph, here's your chance.

Visit the website below for more information on the scheme and how to enter.

Entries close November 14, 2011.