The Young Businesswoman of the Year award for 1998 was yesterday instigated by the Tanaiste, Ms Harney, yesterday.

The competition, sponsored by Irish Permanent and the Business and Professional Women's Clubs, is open to all women under 40 who are self-employed or in business with another party.

Entrants will be interviewed and asked to make a presentation to an adjudicating committee before the national final on March 25th.

The winner of the competition, which attracts up to 100 entrants from a diverse range of business, will receive a £2,000 cash prize, a certificate and a perpetual trophy. Previous winners of the prize include Ms Maire Ni Thuathail, of Eo Teilifis, Galway, Ms Catherine Tiernan, Eire Communications, Dublin and Galway and Ms Rita Ahern, of Greenacres Foods, Cork. Entry forms are available from Irish Permanent branches and from the Federation of Business and Professional Women's Clubs.

The closing date is February 11th.