A collaboration between The Prince’s Trust and TikTok will soon provide a significant boost to black-owned businesses. An exclusive market event is set to highlight the entrepreneurial spirit of young black individuals in London.
Event Announcement
The Prince’s Trust, in collaboration with social media giant TikTok, is set to host an event aimed at promoting black-owned businesses in the United Kingdom. Scheduled to take place at the iconic Battersea Power Station in London, this one-day market, known as the Black Pound Marketplace, will occur on Friday, 30 August. Visitors will have the opportunity to explore offerings from over a dozen entrepreneurs supported by the Trust’s enterprise programme.
Empowering Entrepreneurs
The Prince’s Trust enterprise programme has been instrumental in nurturing young talent, with more than 90,000 individuals benefiting since its inception in 1983. Through free courses, aspiring business owners receive invaluable guidance on launching and managing their companies. The Black Pound Marketplace provides a platform for these entrepreneurs to showcase their diverse range of products, including sportswear, jewellery, and organic skincare products. This initiative underscores the Trust’s commitment to fostering entrepreneurship among young black individuals.
Spotlight on Success
Shabazz Patterson, founder of Leo Armour, is one such beneficiary of the Trust’s programme. He emphasises the importance of visibility and representation within the business sector. According to Patterson, “It’s great to be able to shine a spotlight on small businesses and show others from the community what is possible.” His story reflects the success made possible by the programme. From mastering business basics to boosting self-confidence, the support he received was pivotal.
Youth Aspirations and Challenges
Recent findings from the Prince’s Trust NatWest Youth Index 2024 reveal a strong entrepreneurial ambition among young black individuals, with 61% aspiring to start their own businesses. This figure is significantly higher compared to other demographics. However, challenges persist. Nearly half of these young people prefer self-employment over traditional employment. The index indicates a keen desire for support in skill-building, as 87% expressed a need for assistance in gaining the necessary skills to venture into business.
Support from Industry Leaders
Sarah Banham, representing the Battersea Power Station Development Company, champions the cause, urging public participation to boost these young enterprises. Similarly, Matthew Harris from TikTok’s global impact programs highlights the importance of the #BlackTikTok community in fostering creativity and entrepreneurial growth. Both leaders emphasise the significant role their organisations can play in nurturing potential within black communities.
Diverse Product Offerings
The market will feature a multitude of products for attendees to explore. From modern homeware to fashionable accessories, each stall represents the uniqueness of its creator’s vision. This diversity not only enhances consumer choice but also reflects the broad spectrum of entrepreneurial talent that the Prince’s Trust helps develop. Such initiatives create an environment where young businesses can thrive and connect directly with consumers.
Looking Ahead
As the event approaches, the anticipation builds among organisers and participants alike. There is hope that the market will not only provide immediate financial benefits but will also inspire continued support for black-owned businesses across the UK. It represents a step towards greater inclusion and equality in the business realm, fostering a prosperous future for upcoming generations.
This initiative presents a unique opportunity for black entrepreneurs to gain visibility and recognition. Through collaborative efforts and public support, the event promises to pave the way for a more inclusive and diverse business landscape.
