EVER wondered how you could turn £1 into a £10,000 dream business opportunity? We have created a competition which will allow one entrepreneur to set up their own business – and it will cost the winner just £1 for an entire year. The package includes rent

EVER wondered how you could turn £1 into a £10,000 dream business opportunity?

We have created a competition which will allow one entrepreneur to set up their own business - and it will cost the winner just £1 for an entire year.

The package includes rent-free accommodation, legal advice, an accountant, marketing expertise, a business mentor, free advertising and even membership of the Cambridgeshire Chambers of Commerce.

The eXchange your life competition offers a dream start for any new business.

All the winner will have to do is impress judges with his or her business plan and with a presentation at a Dragon's Den-style event.

That's it.

This exceptional package has been put together by The Hunts Post and Huntingdonshire District Council (HDC) with the help of some of the best business experts in their fields.

The rent-free office accommodation would be at HDC's new and modern Creative Exchange building in St Neots - a centre purpose-built for start-up businesses in the creative industries.

The winner will be given his or her own office space at the Creative Exchange and tap into the onsite business support provided by the firm that manages the building, NWES.

However, the competition will also allow the winner access to the experts.

Claire Clarke, a partner at Mills and Reeve in Cambridge, will be offering legal advice. She is a specialist in corporate law and her team runs a start-up legal advice service called LaunchPAD. The scheme allows entrepreneurs to get their ideas into practice by advising on how to form and finance a new company.

Alistair Wayne, managing director of Media Managers Limited in Cambridge, the fastest growing media planning and buying specialist in the East of England, will be offering the winner the equivalent of a full day's marketing and sales consultancy worth in excess of £1,000.

Archant, owners of The Hunts Post, will be offering both digital and print advertising to the winner.

Accountant Simon Laskey will be the finance brains behind the package. His Huntingdon-based branch of Haines Watts Chartered Accountants will provide free accountancy and taxation advice for one year, including accounts preparation.

Cambridgeshire Chambers of Commerce have agreed to give the winner free membership for a year, providing plenty of networking opportunities.

Chris Newsome, director of asset management at Anglian Water in Huntingdon, is the business mentor. He has a wealth of knowledge and experience, and is a key business mentor with the Young Enterprise scheme.

Andy Veale, editor of The Hunts Post, said: "This truly is an exceptional start-up package for someone who has a great idea that they want to turn into a new business.

"This is a very exciting, free-to-enter competition which has been made available thanks to the generosity of our 'Dragons'. We all firmly believe that there are going to be some fantastic ideas to be found in Huntingdonshire, Cambridge, Bedfordshire and beyond, and we're all looking forward to finding out more about them."

HDC will also be hosting two workshops during the summer to help potential winners with their business plans and to meet the criteria in the competition rules.

Deadline for entries is August 28, 2009.

INFORMATION: If you have any questions about the rules or workshops, contact Julie Drummond, economic development officer at Huntingdonshire District Council, on 01480 387086. Application forms and competition rules can be accessed by visiting www.huntspost24.co.uk and clicking on the xChange your life logo.