TODAY sees the launch of a major competition for Hampshire businesses, with £20,000 up for grabs.

The Daily Echo and business insurers Aon have teamed up to try to make a massive difference to one lucky local fledgling firm.

Called Business Accelerator, the competition will see small, young businesses challenged to show how they could make the best use of £10,000.

The best business plan wins the cash and a further £10,000 worth of advice - both from business experts at Aon Commercial Lines.

The competition, the first of its kind in the region, aims to highlight the wealth of entrepreneurial talent in Hampshire.

Ventures could range from new vehicles, new computers and software, a major publicity drive or the funding for an office expansion.

A panel of judges from Aon, the Daily Echo and Southampton's business community will put together a five-strong shortlist. Each of those entries will be profiled in the Daily Echo before the ultimate winner of Aon's £10,000 is announced. Expert business consultants from Aon will then go to work on the winning firm, offering the benefits of their experience.

Business services on offer include risk assessments, marketing, business mentoring and insurance services that the business might not otherwise be able to afford.

Aon has had an office in Southampton for 18 years, employing 100 people.

Aon director Rosemary Gilmour said: "The Business Accelerator will recognise the local entrepreneurial talent and allow it toflourish.

"The winning business must be young and have a compelling case."

Normal Daily Echo competition rules apply.

How to apply.

Businesses can apply from today for the investment prize by simply sending a 500 word document to businessaccelerator@aon.com including why the business should win the prize and how you would invest the money, along with a photograph that sums up the business.

The application should include: How old the business is. How many people are employed. Turnover. Location. The business web address.

Closing date is February 19.