The 'platinum' sponsorship package makes Coles the largest individual sponsor in the event's history.

The festival's sponsorship coordinator, Craig Saunders, described Coles' support for the festival as "wonderful" and has urged local businesses to follow the supermarket's lead.

He admitted the sponsorship situation was "getting desperate" and that another $20,000 was needed for the running of the event.

Manager of Coles in Ulladulla, Simon Fackender, said he had been hearing all about the festival from his team members since arriving in Ulladulla six months ago.

"It sounds to me like a great weekend and I can't wait for it to come around."

He said the supermarket was also sponsoring one of its employees in the princess competition and would be taking other steps to support the event.

Mr Fackender said he had always taken a keen interest in community events and tried to sponsor as much as possible, hinting that a long-term relationship between Coles and Ulladulla's annual Easter festival was a real possibility.

Mr Saunders this week called on every business in the Milton-Ulladulla region that benefits from the annual Blessing of the Fleet Festival to chip in with some cash.

"We need every business that benefits from the festival to put in a little bit," he told the Times.

A number of businesses have signed up as gold sponsors including the Milton-Ulladulla Times, Power FM/2ST, Bendigo Bank and the Big 4 Bungalow Tourist Park in Burrill Lake.

Other major sponsors include Ulladulla Taxis, Southern Man and three local clubs - the Ulladulla Ex-Servo's, Mollymook Golf Club and the Milton-Ulladulla Bowling Club.

A host of other businesses have come on board as minor sponsors but more are needed.

Mr Saunders said any shortfall in funding this year would jeopardise the running of future events - including the Blessing of the Fleet parade.

He has urged local businesses to chip in anywhere between $50 and $500.

"Everyone should be jumping on board without even asking," he said.

Any money not spent on the running of this year's festival would be held over until next year.

Mr Saunders said the sponsorship situation was "getting desperate" and encouraged business owners to consider how much they would lose if festival events such as the parade didn't go ahead next year.