Black Business Bank

Racism is a global historical institution designed by whites to control natural resources and to socially engineer the people of the world with darker-shaded skin tones.

The social engineering applied to people of Africa and their descendants is still felt today with inferiority complexes and dysfunctionality within the Black communities.

I am a concerned and passionate United Kingdom citizen who advocates for self-improvement and economic empowerment as a required strategy towards a fair and equal society.

Therefore, I wish to propose a strategy for the specialist establishment of a specialised Business Bank to support Black Minority Enterprises (BMEs) in the UK.

The Black communities in the UK are vibrant and diverse, with people in business and individual entrepreneurs who play a crucial role in contributing to the UK’s economic growth and cultural diversity.

I and other BMEs business face unique challenges, including limited access to capital, financing and mentorship opportunities which hinder our ability to grow a company that thinks globally while acting locally.

Our aims

·        Collaborate in partnership with a range of financial institutions, including banks, credit unions and microfinance organisations.

·        Forming partnerships will enable Black Business Bank to leverage existing infrastructure and expertise while providing a more comprehensive range of products and services.

·        For example, we will explore options for providing risk-sharing mechanisms to encourage financial institutions to increase lending to BME entrepreneurs and businesses.

Our planned programme for success

·        Create dedicated loan programs with preferential rates and flexible repayment terms to support BME-owned businesses at various stages of their growth.

·        Develop a mentorship program that pairs experienced business leaders with BME-owned businesses to share best practices and provide valuable insights into navigating the challenges of running a successful business with growth potential.

·        Run a public awareness campaign to promote Black Business Bank’s services and engage with the BME communities. I believe active engagement with local communities, business networks and relevant organisations will build trust and encourage BME-owned businesses and entrepreneurs to take advantage of the support offered.

·        The £300 million investment we seek will allow us to provide real traction in emerging markets while returning a profit in the short-term.

I believe institutions and companies are willing to play a significant role in creating  commitment to fairness and equality in society, and supporting BMEs is critical in reaching those aims.