Entries are now being taken for this year's Beacon Bursary competition.
Budding entrepreneurs from the county are being urged to enter this year's competition, which was launched at Coleg Sir Gâr's Graig Campus.
The prize on offer has been increased this year to £5,000 along with a year's free office space in the Beacon Centre for Enterprise in Dafen, Llanelli. The winner will also be offered mentoring support in a bid to develop their business. Two runners-up will receive £2,000 and six months free office space and £1,000 and six months free office space respectively.
The Beacon Bursary is open to further and higher education students living or aiming to set their business up in Carmarthenshire.
The annual competition is delivered through Carmarthenshire County Council in conjunction with Coleg Sir Gâr and University of Wales Trinity Saint David and forms part of the council's commitment to developing entrepreneurship within the county.
Last year's winner was Lian Cara Poulson from Llandovery whose winning proposal was to establish her own fashion label. She impressed the judges with her blend of creative talent, commercial vision and professional business plan and presentation.
Carmarthenshire Council leader, Cllr Emlyn Dole, said: "The aim of this competition is to nurture our county's entrepreneurs and to offer them not only a chance to have a base to grow their business, but also to provide support from a team of business mentors from the private and public sector.
"Previous winners have told us how invaluable winning this competition has been and I look forward to discovering all the new entrepreneurs we will meet through this competition this year."
Coleg Sir Gâr Principal Barry Liles said: "This is a fantastic opportunity for someone to not only start or develop their own business but to receive the mentoring support that is all so crucial for a successful start-up.
"Last year we were thrilled to present our fashion degree student Lian with the award, who has since continued her business which was recently recognised and published by Vogue magazine."
The closing date for expressions of interest is March 29, 2018.
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