Calling all Black entrepreneurs – ‘Black. British. In Business & Proud’ survey is now open!
Last year, we showcased the power of action when we used our collective voices to highlight the obstacles Black entrepreneurs face, in collaboration with @LloydsBankBusiness
The findings and recommendations gave us a real kickstart to our goal of removing the barriers we face as entrepreneurs. Also, how financial institutions can play a big part in the forward movement of this positive change;
KEY STATS WE FOUND:
– Funding remains the top support that is needed marketing & PR close -behind. Nearly 1 in 4 (23%) need financial skills & cashflow management & 1 in 5 (19%) need help in understanding funding and eligibility.
– 52% of Black business owners are not confident in applying for financing; specifically applying for a business loan or grant.
– Only 2 in 5 (43%) business owners trust banks to have the best interests of Black entrepreneurs in mind
KEY RECOMMENDED ACTIONS PUT FORWARD:
– Increase proactive partnerships with grassroots and local community organisations
– Provide education and upskilling in key areas such as finance, marketing, digital, legal, and leadership
– Create a central hub of trusted information, skills, networks and mentors
WHAT’S BEEN DONE SO FAR:
Based on our recommendations Lloyds Bank partnered with BBN, Foundervine, Mentor Black Business and Jamii producing a variety of educational and marketplace events such as BBN’s BI360 Finance Festival, Foundervine’s Immerse Programme, MBB’s Mentorship Programme & Jamii’s Black Business Marketplace.
…BUT there is still much to do to truly amplify and harness our collective power!
THIS YEAR WE ARE FOCUSING ON…
– Access to finance
– Understanding what influences entrepreneurs
– Access to information
– How to take action
It’s time to build our ecosystem and show that we are united in purpose. It’s time to share your voice.
TAKE SURVEY NOW
The survey is open until Friday 12th June 2022.
FORWARDS EVER, BACKWARDS NEVER 👊🏽👊🏾👊🏿