Starting or growing a business is a journey that often requires more than just a great idea—it takes funding, mentorship, and access to resources. For Black entrepreneurs, there are organisations and initiatives dedicated to providing the support you need to succeed. Here’s a guide to some of the best places to look for funding and resources.
1. Black-Focused Funding Organisations
These organisations are designed specifically to support Black entrepreneurs:
The Black Business Network (BBN):
Offers grants, investment opportunities, and networking events for Black-owned businesses in the UK.
Do It Now Now:
Focuses on providing funding and programme support for Black-led businesses and social enterprises.
UK Black Business Fund:
A fund supporting Black entrepreneurs with grants and low-interest loans to help scale their ventures.
2. General Startup Support with Inclusion Programmes
Many broader organisations have initiatives specifically for underrepresented groups:
British Business Bank:
Offers Start-Up Loans and mentoring tailored for diverse founders.
The Prince’s Trust:
Provides grants, mentorship, and business planning advice for young entrepreneurs aged 18–30.
Innovate UK EDGE:
Supports innovative startups with funding competitions and business growth programmes.
3. Local and Community-Based Support
Don’t underestimate regional organisations and councils:
Local Enterprise Partnerships (LEPs):
Many LEPs have funding and networking opportunities specifically for minority entrepreneurs.
Community Investment Funds:
Some community groups offer grants for small Black-owned businesses—check with local business networks.
4. Other Resources and Tools
Expand your search with these ideas:
Crowdfunding Platforms:
Launch a campaign on platforms like GoFundMe or Crowdfunder UK, highlighting your unique story and business goals.
Angel Investors and Networks:
Look for angel investment groups that prioritise diversity, like Cornerstone Partners in the UK.
While navigating funding as a Black entrepreneur can feel challenging, there are many organisations and programmes ready to support you. Whether you need financial backing, mentorship, or just a community that understands your journey, help is out there—you just need to know where to look.
Do you know of other organisations or resources that support Black entrepreneurs? Share them in the Slack group!
