TV ads scheme opens doors to Black-owned businesses in bid to fuel their growth

CHANNEL 4 and Lloyds Bank have teamed up in a bid to help Black-owned businesses grow through the Black in Business initiative, now in its second year. The initiative is designed to help Black-led enterprises scale and thrive, addressing the unique funding challenges they often face, while offering a platform to reach millions of potential customers. The team behind Black in Business is urging Black entrepreneurs to  apply for an opportunity that could propel their growth. The initiative aims to identify and empower four businesses ready to scale  through a combination of Channel 4’s TV advertising airtime, worth £150,000. 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. Lloyds’ 2022 Black. British. In Business and Proud report also revealed that 84% of Black business owners have been negatively discriminated against in their entrepreneurial efforts. Ewan Douglas, Head of Sales Nations & Regions & Business Development, at Channel 4 Sales, said: “We are excited to connect four Black-owned...