Channel 4 has awarded £100k in airtime to five black-owned businesses as part of its inaugural Black In Business initiative with Lloyds Bank.
In addition to the airtime, each of the five businesses will have a TV ad made for them and six months of tailored marketing and business support from Channel 4, Lloyds Bank, and social enterprise DOES.
The initiative received more than a thousand applications and five further shortlisted businesses will be awarded a £15,000 ‘Rising Stars’ grant provided by Jamii, an online marketplace for Black-owned businesses, as well as a one-to-one consultation session to help achieve their business goals.
The scheme was developed after Channel 4’s commercial arm 4Sales found Black entrepreneurs faced more obstacles setting up and running their businesses than White counterparts.
“When our research highlighted the obstacles faced by Black-owned businesses, we wanted to make a tangible difference by offering practical support to directly target some of the issues,” said Channel 4’s client strategy and communications partner Clare Peters.
“It is our sincere hope is that this scheme kickstarts wider awareness of the challenges faced by Black-led businesses and prompts action across the industry to deliver equal opportunities for entrepreneurs and business owners, regardless of their background and ethnicity.