Yorkshire distillery Drapers England is the sole Northern brand on the 20-strong shortlist for the 2024 edition of the Black in Business initiative, which Channel 4 and Lloyds have published today.
The Black-owned businesses are in the running for a combination of free TV advertising airtime, the creation of their own TV advert and business support.
Black in Business is a Channel 4 initiative in partnership with Lloyds, to help tackle structural obstacles that Black entrepreneurs face when setting up businesses. Channel 4 Sales research found that 56% of Black owned businesses receive funding only once they had already become successful, compared to 35% of white business owners. 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.
Now in its second year, following the success of the first year, Black in Business will provide £150,000 worth of TV advertising on Channel 4 to four successful businesses, up from £100,000 in 2023. The winning entrepreneurs will also receive tailored expertise and business advice from Lloyds, plus the creation of their own Channel 4 TV advert.
North East-based luxury spirit brand Drapers takes inspiration from British fashion, textiles and craftsmanship, hand-distilled in the Yorkshire Dales, and makes a list dominated by London and South East brands and businesses including MAMA Youth project, a London charity supporting young people from underrepresented and disadvantaged backgrounds into careers in the media industry; Storymix, a fiction studio based in the South East creating inclusive stories for children and teenagers by collaborating with diverse writers and illustrators, and Colorintech/Black Tech Fest, a London-based platform event dedicated to celebrating and amplifying Black excellence in technology.
2024 applications for Black in Business closed on 28 October 2024.
Ewan Douglas, head of sales nations & regions & business development, at Channel 4 Sales, said:
“Our shortlist of Black in Business applicants are an incredibly strong group of candidates who all carry tremendous vision and promise in their businesses.
“We’re proud of the impact our initiative will have in providing access to the transformative power of Channel 4 TV advertising and Lloyds’ expertise to these entrepreneurs. Black in Business continues Channel 4 Sales’ track record of using advertising to deliver change within society, such as the Diversity in Advertising Award.”
Elyn Corfield, CEO, business and commercial banking, Lloyds, added: “This shortlist of Black in Business applicants represents some of the best of UK entrepreneurship – these businesses are moving forward with ambitious growth plans, innovating and creating jobs and opportunities within their communities.
“We’re committed to providing a more equitable business landscape for the UK’s Black entrepreneurs and share that vision with Channel 4. By building on the successful first year of Black in Business, we’re giving more Black entrepreneurs the opportunity to take their businesses to the next level.”
