Channel 4 and Lloyds boost investment in Black entrepreneurs as Black in Business returns for second year

30 September 2024

Channel 4 and Lloyds have teamed up once again for the return of Black in Business.

 

This year, four successful Black owned-businesses will each be awarded £150,000 of TV advertising on Channel 4 – up from £100,000 per winner last year.

 

The initiative aims to identify and empower four businesses ready to scale and grow through a combination of Channel 4’s TV advertising airtime plus Lloyds expertise and business advice.

 

The initiative was inspired by research led by Channel 4 Sales which revealed that 56% of Black owned businesses only receive funding once they had already grown a successful business, compared to just 35% of white business owners who were given the same requirement by lenders. In addition, Lloyds’ 2022 Black. British. In Business and Proud report revealed that 84% of Black business owners have been negatively discriminated against in their entrepreneurial efforts.

 

Applications for Black in Business are now open and will close on 28 October. More information is available at www.channel4.com/blackinbusiness.

 

Last year, Black in Business attracted over 1,000 applications, with the TV adverts for the five beneficiaries seen by 21.5 million people. One in five adults surveyed were able to recall the initiative, and one in three considered buying their products and services.

 

Last year’s beneficiaries were:

• Dalgety Herbal Teas, which manufactures 100% natural, strong-flavoured herbal teas while promoting positive social and economic impact to small farming communities in the Caribbean, Africa and Asia.
• LØCI, an ethical fashion brand founded by Emmanuel Eribo, producing vegan and sustainable trainers made of recycled bamboo, foam and rubber.
• The Gym Kitchen, founded by Segun Akinwoleola, aims to make clean eating affordable, accessible and tasty through a range of healthy meals, pizzas and grain pouches.
• The Turmeric Co, inspired by the homemade formula that saved Thomas Robson-Kanu’s footballing career after injury, promotes effective, functional nutrition to all through clinically-backed turmeric shots that aid recovery, immunity, performance and energy.
• TreasureTress, founded by Jamelia Donaldson, is the UK & Europe’s largest monthly product discovery box for textured hair types, providing convenient and affordable ways to discover new hair products that work for their unique hair needs.

 

Ewan Douglas, Head of Sales Nations & Regions & Business Development, at Channel 4 Sales, said: “We are excited to connect four Black-owned businesses to the transformative power of TV advertising, and, in doing so to help support their growth journeys. Across the two years of this initiative, more than £1 million of Channel4 TV advertising will have been made available to Black-owned businesses. Black in Business is the latest example of how we aim to support positive change in our industry, and we cannot wait to work with the next cohort of businesses.”

 

Elyn Corfield, CEO, Business and Commercial Banking, Lloyds: “Black in Business has proven to be a game changer in the journey towards building a more equitable business landscape. These entrepreneurs are not just growing their businesses - they are inspiring the next generation. With our increased investment and our continued partnership with Channel 4, we are excited to support even more Black-owned businesses to reach new heights and make their mark.”