24 | THE VOICE APRIL 2023
Black Busines Guide
Black entrepreneurs boosting the economy The Voice’s Black Business Guides are leading the way in promoting economic empowerment. By Vic Motune
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LACK ENTREPRENEURS contribute as much as £25 billion to the UK economy, according to recent research from the Federation of Small Businesses and Aston University. Support for these businesses — which spans London, the southeast, the Midlands, and the north of England — can be clearly seen through events such Black Pound Day and the Black Owned Business Expo. As the Black Pound Report 2022 highlighted, Black and minority ethnic consumers are an increasingly important economic force with an annual disposable income of £4.5 billion. The figure for African Caribbean consumers alone is £1.1 billion. Importantly, Black consumers are increasingly vocal about using their sizeable buying power to invest in companies where they know they are being catered for. However, despite this trend, Black entrepreneurs still face significant hurdles, especially when trying to launch their businesses. Research published earlier this year by Channel 4 and Clear Channel revealed that Black
PROBLEM: Black business owners find it harder to raise the funds needed to grow their business (photo: ndrea iac uadio e els)
business owners find it harder to raise the funds needed to launch or grow their businesses or get investors to believe in their plans. This is an enduring problem, one that needs real, tangible change. Governments must also acknowledge the role they play in openly supporting minorityled organisations and develop a clear policy for inclusive entrepreneurship.
PROPERITY
The entrepreneurial ambition of ethnic minorities can play a crucial role in the government’s ‘Levelling Up’ agenda, helping to create prosperity and a more cohesive society. The successful launch of the inaugural Black Business Guide in 2018 saw The Voice take a lead role in campaigning for change on these issues as well as providing a platform for the Black community’s economic empowerment. And it continues to champion Black-owned businesses through the latest edition which comes out in May. Despite the obstacles they face, these businesses are creat-
ing employment for thousands of people and are using technology in innovative ways in industries ranging from haircare, property and cuisine to fashion and retail. The forthcoming guide will tell their stories of overcoming barriers through features, inter-
views, and analysis pieces.Readers will also find a wealth of information on products ranging from black dolls, books and toys for children, natural hair and skincare products to authentic African-inspired clothing and Caribbean food and drink. But their success is not just
about levelling the playing field That has significant benin the business world. efits for the UK as a whole. So Black entrepreneurs tend to please continue to support them. play a key role in supporting and revitalising the communities If you would like to advertise in the where they are based, helping to next edition, please contact us create job and training opporat: advertising@thevoicemediatunities for people from undergroup.co.uk represented backgrounds.
Philanthropist gives struggling families a helping hand By Leah Mahon HI H O IS property developer is giving away thousands of pounds to struggling families amid the surging cost to live tkinson set up a business with his nieces that runs a ash Giveaway after seeing firsthand how countless people are battling to put food on the table or to keep the lights and heating on he businessman of igerian heritage who coaches on building generational wealth and investing in properties said: I ve always been uite big on helping others I ve grown up in a hristian environment and we ve always been
taught to give away some money to the church and to people in need I m fortunate enough to have been able to make some money for uite some time and I ve been trying to find different avenues to help people r tkinson revealed that a recent encounter with his mother helped to further inspire his altruistic efforts She told him about a friend who was helping people in need and he gave her to contribute he friend then went on to pass the donation around to people she knew he entrepreneur later got a te t from her relaying a story from their pastor about how his gener-
ous sum had helped one lady in desperate need She described tkinson s donation as a blessing from God because the lady only had p to feed her kids that week He admits he knew the cost of living crisis was taking a toll on people but didn t believe it when he heard how much this mother had to live off r tkinson decided to give her a call so he could hear her story for himself What he heard affected him greatly It touched me the lady s plight I m in a position to help some people and I thought let s see who we can help hat s when
my niece and I started up this little business and we re ust trying to save the world by helping people where we can ccording to the Office for ational Statistics per cent of adults found it difficult to afford to pay bills In October a survey revealed that per cent of people were worried about being able to afford food in the ne t month and percent said they d skipped a meal or cut down the si e of their meals o be considered for and his niece s ash Giveaway ampaign visit www givetolani co uk or head to s Instagram page t alife
CRISIS: nderson with a cash giveaway winner whose bills were soaring
