RBS launches £35m Entrepreneur Challenge

The Royal Bank of Scotland (RBS) has launched a £35 million competition to find the UK's most promising entrepreneurs.

Entrepreneurs Challenge offers business owners the opportunity to win interest-finance for up £5 million for three years.

Backed by the Sunday Times, the competition is aimed at small to medium-sized businesses across most sectors, with a minimum turnover of £2 million.

"It's a chance to change the future direction of your business dramatically and accelerate how quickly you can get there," James Farrar, head of marketing at Bank of Scotland Corporate and chairman of the judging panel, commented.

In order to succeed, business owners must impress a panel of judges with their ideas, for what RBS claims is the biggest UK business prize ever.

Every entry is allocated to one of seven UK regions and the closing date for entrepreneurs interested in the challenge is May 19th.