The Black in Business initiative by Channel 4 and Lloyds has shortlisted Yorkshire distillery Drapers England as the sole Northern entrant in 2024.
- This initiative aims to address structural challenges faced by Black entrepreneurs by offering critical support.
- Selected businesses will receive free TV advertising airtime, expert guidance, and personalised TV advert creation.
- Drapers England, a luxury spirit brand, joins a diverse list of businesses from London and the South East.
- The initiative reflects Channel 4’s commitment to societal change through advertising, along with Lloyds.
The announcement that Yorkshire distillery Drapers England is the only Northern representative on the shortlist for Channel 4’s 2024 Black in Business initiative is indeed noteworthy. This programme, in collaboration with Lloyds, seeks to mitigate the barriers encountered by Black entrepreneurs embarking on their corporate journeys.
Research from Channel 4 Sales highlights a concerning disparity in funding, with 56% of Black-owned businesses receiving financial support only post-success, contrasted with 35% for their white counterparts. The 2022 report from Lloyds, ‘Black. British. In Business and Proud’, further underscores the issue, revealing 84% of Black entrepreneurs have faced negative discrimination. Such statistics underscore the need for programmes like Black in Business, which is now in its second year and aims to offer more robust support.
Participants in this initiative will compete for £150,000 worth of Channel 4 TV advertising—an increase from the previous year’s £100,000. The selected few will also gain access to tailored business advice and the development of their exclusive Channel 4 TV advertisement. Drapers England, known for its luxury spirits inspired by British craftsmanship, stands as a Northern beacon amidst a list predominantly featuring London and South East entities.
The list also includes notable names like the MAMA Youth project, focused on aiding underrepresented youth in media careers; Storymix, a fiction studio aiming for diversity in children’s literature; and Colorintech/Black Tech Fest, a platform celebrating Black excellence in technology. Applications for the 2024 programme closed on 28 October 2024.
Ewan Douglas from Channel 4 Sales expressed pride in elevating strong candidates through this initiative, emphasising the transformative potential of Channel 4 advertising combined with Lloyds’ business expertise. Meanwhile, Elyn Corfield from Lloyds highlighted the ambition and innovative spirit of the shortlisted businesses, reaffirming a pledge to cultivate an equitable business environment for Black entrepreneurs in the UK.
Drapers England’s inclusion in the Black in Business initiative showcases efforts to empower Black entrepreneurs in the UK.
