More than one million women are now running their own business - a fact celebrated by the Women Mean Business Awards, launched yesterday by T-Mobile.

The Awards, now in their second year, are a national search to find Britain's top, self-made businesswomen, with £40,000 of cash and prizes waiting for the winners.

The Women Mean Business Awards, presented in association with the Sunday Express, show that a third of all business start-ups and more than half of the female workforce is self-employed. And the sector is one of the fastest growing within the UK economy.

Secretary of State for Trade and Industry Patricia Hewitt, who helped launch this year's Awards, said she expects record numbers of women to start new businesses in 2003.

"In the United States, the level of women's business ownership is twice that of the UK," she said, "One of my aims is to match, or even exceed, what has been achieved there. To do this, we must ensure that women owned businesses, whatever their size, are valued and supported effectively."

The Award's Organisers are looking for women who own businesses more than two years old, who can demonstrate through practical example, how they have turned an idea into a thriving commercial venture.

Any size business can enter, providing the majority of shares are in private ownership.

Last year's winner, Christine Armstrong, had successfully developed a natural home insulation material, manufactured from sheep's wool produced in her native Cumbria. Other finalists included a £20 million IT company, a specialist lingerie distributor and a children's book publisher.

T-Mobile's Chief Executive for the UK, Harris Jones, said:

"All too often, the vital role independent business women play, both as wealth creators and employers, is overlooked.”

"These unique Awards help to redress that balance and remind us that Britain boasts some of the finest entrepreneuses in the world. All of us at T-Mobile are delighted to have this opportunity to celebrate their success and our shared commitment to achieving business excellence."

This year's judging panel includes:

Simon Bartley, Chair of the CBI SME Council; Isabella Moore, President, British Chambers of Commerce; Martin Rowley, Business Development Manager, SBS London Region Team; Samantha Gemmell, M.D. Creative Media Matrix and Director, Investors in People; Kate Brackenbury, Director of Membership Sales & Marketing, Institute of Directors; Liliana Solomon, Chief Financial Officer, T-Mobile (UK) and Giulia Rhodes, Features editor, Sunday Express.

10 national finalists will receive a £3,000 telecommunications package from T-Mobile, with the winner going on to collect £10,000 cash at a celebrity Awards dinner at London's Café Royal on Wednesday 3rd September.

Closing date for entries is Friday 11 April 2003.

Entry forms are available from the Women Mean Business Awards Office, Stable Yard, 16 Balham Hill, London SW12 9EB, or telephone 020 8673 2020.