Channel 4 is offering four black-owned British companies the chance to secure television advertising worth £150,000. The initiative – Black in Business – gives firms the chance to create their own commercial for the channel, plus six months of marketing and business mentorship.
The scheme, which is being run in partnership with Lloyds, first launched last year. It is open to companies that generated a turnover of at least £250,000 in their last financial year and have not invested in TV advertising before. At least 50% of the founding team must also identify as black.
Black in Business was inspired by research led by Channel 4 Sales, which revealed that 56% of black-owned businesses only receive funding once they are successful, compared to just 35% of white counterparts who were given the same requirement by lenders.
Last year, the initiative attracted more than 1,000 applications, with the TV adverts for the five beneficiaries seen by 21.5 million people, according to Channel 4.
Among the winners of the inaugural scheme was The Turmeric Co – a nutrition brand set up by former footballer Thomas Hal Robson-Kanu. The health drinks company launched in 2018 to help athletes recover from injuries. The drinks are all made in the UK and are stocked in Wholefoods, Planet Organic, Harvey Nichols, and at David Lloyd gyms.
“Inclusivity and diversity are such an important aspect of the world today,” said Mr Robson-Kanu. “Less than 1% of supermarket brands have black or multi-ethnic founders. Initiatives like this allow brands and individuals a platform to raise awareness and create opportunities. I think it’s brilliant.”
Last year’s other beneficiaries of Black in Business include tea manufacturer Dalgety Herbal Teas; ethical fashion brand LØCI; clean eating firm The Gym Kitchen; and hair care brand TreasureTress.
Jamelia Donaldson, founder and chief executive of TreasureTress, said: “With the community we serve, it’s so important our voice is amplified, and people will certainly see us on TV. It will also help mainstream haircare brands understand the massive opportunity they’re missing out on.”
Channel 4 said that across two years of the initiative, more than £1m of TV advertising would have been made available to black-owned businesses in the UK.
“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,” said Ewan Douglas of Channel 4 Sales.
Elyn Corfield, chief executive of business and commercial banking at Lloyds, added: “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.”
Applications for Black in Business will close on October 28. More information is available at www.channel4.com/blackinbusiness
Sign up to our #IAMBOB newsletter
We’re celebrating the success of the UK’s black-owned businesses – and we want to tell you all about them in our #IAMBOB newsletter!
Once a month, we share news, features and comment from companies led by black business leaders – from start-ups and SMEs to blue-chip corporations and household names.
You can sign up here