Young entrepreneurs are most likely to struggle for funding, according to a recent growth report from Albion Ventures for small businesses. 

The survey of over 1,000 companies revealed that 28% of entrepreneurs aged under 35 were having problems accessing funds in comparison to 15% of those over 55’s.

Albion Growth Report also found a growing popularity in small and medium sized enterprises using alternative finance, which sharply increased from 6% in 2014 to 29% in 2015. 

We’ve put together a list of funding competitions you can enter to financially develop your business:

Mayor of London’s Low Carbon Entrepreneur 2016

Deadline –  14th February.

What & Who – The Low Carbon Entrepreneur is run by the Mayor of London and it aims to find new ideas for reducing London’s carbon imprint. The competition, sponsored by Citi Foundation, is opened to students or recent graduates from London universities and colleges.

Award Prize – £20,000 plus mentoring and support from City Hall. 

Santander Universities ‘The 60 Second Pitch Awards’ 

Deadline – Date for 2016 not yet set.

What & Who – The 60 second pitch competition gives you the opportunity to ‘wow’ the panel of judges with your innovative business idea within 60 seconds. All you need to do is record and upload your video pitch to YouTube explaining your business concept and why you deserve to win. The award is opened to Higher Education students or a recent graduates within two years of submission.

Award Prize – Up to £1,500 plus business support and advice from Santander.  

Quality Formations Startup Grant

Deadline – 29th January.

What & Who – Quality Formations is the UK’s leading company formations agents and they’re offering the Startup Grant to help aspiring young entrepreneurs launch their startup ideas. The grant award competition is opened to students studying at a recognised UK higher learning or further education institution. It is designed to supplement each student’s annual income to help them spend more time pursuing and developing their new business idea.

Award Prize – £1,000 plus free of charge opportunity to form a limited company with Quality Formations.

The Deutsche Bank Awards for Creative Enterprise

Deadline – 19th February.

What & Who – The Deutsche Bank Awards for Creative Enterprise is designed to help creative entrepreneurs launch themselves as a professional. The 2016 categories includes Art & Photography, Craft & Design, Film, Music and Performance. It is opened to Final year undergraduates and postgraduate students, and those who have graduated since June 2015 and not continuing any further studies.

Award Prize – Between £1,000 to £10,000 plus a year-long business mentoring and an intensive two days small business training from Deutsche Bank.

Mayor of London | Deutsche Bank | Santander Universities UK | Quality Formations