Every year since 1987 the business leaders of Yorkshire have got together to applaud the outstanding work of businessmen and women and raise money for sick and under-privileged children.

More than £2m has so far been raised for the Variety Club Children's Charity, which is organising the December awards with main sponsors, the Yorkshire Post and Hitchenor Wakeford Executive Search.

Martin Shaw, chairman of the Yorkshire Post Business Awards, said: "Last year, more than 500 guests attended the awards, which raised a record-breaking £250,000 for the Variety Club. We are staggered by the support and generosity of the business community, which enables us to continue to make a real difference to the lives of the children in our region."

Sarah Ferguson, the Duchess of York, and Stuart Rose, the boss of Marks & Spencer, attended last year's ceremony at the Queens Hotel in Leeds. Last year's winners were Chris Rea, of AES Engineering, the board of Fenner, Pharmacy2U and Leslie Silver.

The Variety Club charity distributes the money to good causes around the region through its Yorkshire committee, which was established more than 40 years ago. Funds have been used to pay for wheelchairs, special beds and hoists, walking frames, computers and sensory equipment and much more.

The annual Christmas charitable event includes three awards – the Business Leader of the Year, the Board of the Year and Small Business of the Year. In addition, the Variety Club Children's Charity will be presenting a Lifetime Achievement Award.

For Business Leader of the Year, the recipient can be the head of a business of any size. The winner will be judged on qualities of leadership, innovation and quality of product or service and their personal standing within their own industry.

For Board of the Year, the emphasis will be on teamwork and the judges will look for a company – either public or private – which has maintained a steady performance and profit record.

For Small Business of the Year, the judges are looking to recognise an organisation with an annual turnover of up to £10m that demonstrates a strong potential for growth. It must have a clear understanding of the market and its future development within it together with sound and measurable practices.

There will also be a special Variety Club Lifetime Achievement Award to an individual from Yorkshire who has contributed to the profile of the region.

Previous Yorkshire Post Business Award winners include Paul Sykes, Archie Norman, Lord Hanson, Lord Kirkham and Sir Ken Morrison.

This year's event is being supported by Pinsent Masons, Alliance and Leicester Commercial Bank, Deloitte, World Events, Leeds Bradford International Airport and NM Rothschild.

It is not to be confused with the Yorkshire Post Excellence in Business Awards, which take place in October.

The Variety Club Children's Charity was founded in 1949 and its Yorkshire committee was established more than 40 years ago. It has one goal – to improve the lives of sick, disabled and disadvantaged children throughout the country.

In its lifetime, the charity has raised more than £170m which has been distributed to countless youngsters.

If you would like to nominate a company or individual for the Yorkshire Post Business Awards, please email Business Editor Bernard Ginns or write to Bernard Ginns, Business Editor, Yorkshire Post, PO Box 168, Wellington Street, Leeds, LS1 1RF.