Black in Business Supporting Black Businesses
Designed by Channel 4 in partnership with Lloyds, the initiative will support four businesses ready to scale through the power of TV Advertising and Mentorship. Each business will receive £200,000 of TV Advertising on Channel 4.
Winning businesses will also receive a commercial by Quiet Storm, business and marketing masterclasses and 6 months of tailored mentorship to accelerate their business growth.
Research carried out by Channel 4 helped to identify the experiences and challenges that Black Business owners face when starting out in their entrepreneurial journey. The research revealed that Black Business Owners face significantly more barriers when it comes to funding their business vs their white counterparts, and showed a gap in knowledge when it came to marketing and advertising.
Lloyds 2022 Black. British. In Business and Proud report also revealed that 84% of Black business owners have been negatively discriminated against in their past entrepreneurial efforts and only 3 in 10 Black business owners will approach banks for finance.
Who can apply?
- Your business must be UK-based
- At least 50% of the founding team must identify as Black
- You must have an established product or service that has been live in market for at least 6 months at the time of application, including (but not limited to) physical, digital products, apps or online experiences
- Your business must be new to TV advertising
- You must be able to provide proof of business registration (e.g. company number)
- Your business must have the operational capacity to scale in response to increased demand generated by TV advertising
- You must be over 18 years of age