London, UK, 17 July 2024 Black Business Network (BBN) and Lloyds Bank today unveils the Black Entrepreneurial Ecosystem Network (BEECON), an advanced, free online platform designed to transform support for Black entrepreneurs across the UK.
BEECON is a direct response to the recommendations set out in the Black. British. In Business and Proud (BBIBP) report written by BBN and sponsored by Lloyds Bank. The report called for a UK-wide Black business ecosystem and bespoke layers of support.
The BEECON Members Hub offers:
- Guidance and mentorship: connecting ambitious entrepreneurs with business experts for personalised guidance
- Diverse funding options: an opportunity to discover grants, loans and investment opportunities tailored for Black entrepreneurs
- A vibrant peer community: engage with fellow Black business owners, share experiences and build connections through dedicated Discord channels
- Latest industry trends and opportunities: access to exclusive events and networking sessions across the country
The BBIBP report identified that Black entrepreneurs often rely on informal networks such as Black community groups (29%) or social media groups (29%) for advice and support underscoring the need for more accessible and tailored business support. BEECON addresses this by supporting Black entrepreneurs at every stage of their business cycle from ideation to growth.
Shari Leigh, Founder of Black Business Network, said:
We are thrilled to launch BEECON, a platform born from BBN’s deep understanding of the systemic barriers that Black entrepreneurs in the UK face. BEECON is a game changer that addresses challenges such as access to funding, mentorship, and valuable networks, which often leave many promising ventures vulnerable in their early stages. This platform represents a pivotal moment for the Black entrepreneurial ecosystem, providing an ecosystem designed to level the playing field for Black entrepreneurs in the UK.
The BEECON Support Hub, sponsored by Lloyds Bank, serves as the foundation of the platform, by providing:
- A comprehensive directory: a database of over 200 UK-based organisations dedicated to supporting Black entrepreneurs
- Search by challenge: tailored search options for specific challenges such as secured funding or navigating legal processes
- Growth stage specific support: targeted resources and programmes for every step of the entrepreneurial journey, from ideation to scaling
- Regional focus: connect with local organisations and support services
Elyn Corfield, CEO of Business and Commercial Banking at Lloyds Banking Group, adds:
Our ongoing partnership with the Black Business Network on BEECON underscores Lloyds Bank’s commitment to addressing the recommendations outlined in the Black. British. In Business and Proud report. By investing in dedicated networks and resources, we aim to dismantle the barriers faced by Black businesses in the UK, creating a more inclusive and equitable business environment.”
For more information or to become a BEECON member of the community click here.
