A CAMPAIGN has been launched by local newspapers to deliver a £15m boost to promising young businesses.

And as the acclaimed Local Business Accelerators campaign gets under way, new research shows that Britain’s young businesses are positive about prospects for growth in these tough times – but still need advice and support.

The campaign, led by Dragon’s Den star Deborah Meaden, is supported by the Government and private sector’s Business In You campaign.

It has the backing of Prime Minister David Cameron and Bank of England Governor Mervyn King.

More than 500 newspapers, including the Examiner, are joining forces to deliver the £15m boost to promising young businesses through free advertising and mentoring.

Businesses aged between one and five years old can enter LBA for the chance to win a free ad campaign in their local paper plus mentoring support from local business leaders.

The most promising businesses will go forward to the national stage of the competition to win a year’s mentoring from Deborah and a local advertising campaign devised by a top London creative ad agency.

Deborah said: “With last year’s LBA having demonstrated the unique power of local and regional press to provide a meaningful boost to promising young businesses, I am delighted to be supporting the initiative once again.

“The campaign provided tangible examples of the real contribution that local newspapers can provide to young businesses across many different sectors, accelerating their development.

“Enterprise and entrepreneurism in the local community is more important than ever before and I look forward to finding another young business to mentor and drive forward.”

Last year’s overall winner was Ilkley Brewery, which saw sales soar as a result of the free ad campaign in its local paper. The company, currently receiving mentoring support from Deborah, has taken on two new employees since taking part in the initiative.

Research conducted by Toluna and campaign organisers the Newspaper Society showed that a third of owners of young businesses expect growth in the next 12 months while just over half expect their businesses to perform at the same level. Just 12% said they expected decline.

High rent and rates, sluggish consumer demand, access to affordable finance and access to advice were cited as the biggest barriers for local businesses.

Some 22% said they were most likely to use local newspapers to advertise their businesses, followed by 15% for internet advertising and 14% for directories.

Newspaper Society president Adrian Jeakings said: “The inaugural Local Business Accelerators campaign was a resounding success and this year it is going to be even bigger and better.

“LBA demonstrated that local newspapers have a unique ability to deliver a real boost to local businesses, energising and invigorating local economies as they do so.”

Businesses aged between one and five years can enter the competition (see website details below) before the closing date of November 16.

PRIME Minister David Cameron has pledged his support for the Local Business Accelerators campaign.

The PM said he was delighted that the scheme was running for a second year, adding: “The Local Business Accelerators campaign has provided tremendous support to fledgling businesses across the country.”

He said: “Local newspapers play a vital role in their communities and are uniquely placed to support small businesses, giving them the boost that they need to grow, which is good for local areas and good for the economy as a whole.

“I hope more young businesses put themselves forward over the coming months and get involved with this innovative scheme, which rewards entrepreneurship and creative thinking in business.”

Mervyn King, governor of the Bank of England, said: “In all parts of the country, I am impressed by the companies that I visit.

“Exciting innovation and imaginative entrepreneurship are plain to see in many companies. That deserves recognition and support.

“The Local Business Accelerators scheme is an excellent initiative that supports local businesses and communities.

“And it does so through local newspapers, which play a key role in communicating with the public about the economy and business.”