THE University of Teesside has taken over the organisation of a competition for small businesses.

Yesterday, vice-chancellor Professor Derek Fraser signed a £40,000 contract with Professor Ted Fuller of Teesside Business School and managing director Vanessa Leeson and regional director Tim Garrett, both of Parcelforce Worldwide.

More than £100,000 is on offer to small businesses in the competition, which aims to find the UK's best.

Last year there were more than 5,000 entrants for the competition, which was previously organised by Durham University.

Prof Fuller said: "The Parcelforce Worldwide Small Business Awards are prestigious with important sponsors but, most vitally, they celebrate people who create and run their own business.

"The University of Teesside is committed to developing enterprise amongst students, staff and the business community and our role in the awards is one way of demonstrating this."

The university will also be involved in judging the competition which is in its tenth year.