HEREFORDSHIRE’S answer to the hit TV series Dragons’ Den is offering lion-hearted businesses and those with a good business idea or invention the chance of a boost worth thousands of pounds.

The new Lion’s Lair competition aims to give smaller businesses a leg-up to lift them through the recession.

It is a timely development as the number of business failures in the region rose by 25 per cent last month.

Entrepreneurs will compete for a £4,000 prize.

Entrants will face a panel of experts, who will mentor and support the winning business or individual for a year, guiding them through the difficult times to come towards improved efficiency with methods usually only available to larger businesses.

The organisers of the event, CanHave, specialise in breaking down barriers, allowing small businesses to compete, develop and grow.

The event will be held before an audience at 7pm on Wednesday, December 3, at the Royal Hotel, Palace Pound, Ross-on-Wye, at 7pm.

Lion’s Lair judge Martin Firman, managing director of Ross-on-Wye-based CanHave, said: “There is a sense of urgency as people seek new opportunities to survive the forthcoming recession.

“We are challenging businesses in Herefordshire, Gloucestershire and Monmouthshire to compete for this prize offering the services of the region’s best business brains, who, as with the Dragons’ Den team, will make a significant difference to their future prosperity. We want entries from skilled tradespeople such as plumbers and electricians as well as businessmen and women from other sectors. The backing the winner receives will enable them to achieve so much more.”

Anyone interested in entering the competition or simply wishing to attend as a member of the audience should call Martin Firman on 01989 768560 or e-mail martin@canhave.biz.