Supporting Black-owned Businesses

Recently, global events have prompted us as an organisation to pause, reflect and review what we can do to create an inclusive environment for all businesses and individuals.

Through this, we recognised the need for change and therefore created the Race Action plan in July 2020 to outline our commitment to drive equality.

There are some real systemic barriers and unique challenges that the Black business community face into. How we support Black entrepreneurs, businesses and the Black community will be the next phase of our Race Action plan. As part of that, we’ll be looking outward to support clients and communities, and ensuring the UK’s business landscape becomes fully accessible and inclusive of the Black community.

We know we don’t have all the answers and expertise to deliver this, so that’s why we’re going to be working closely with external partners and experts from the Black community to help us shape the right programme of support - helping us prioritise tangible actions that will give Black-owned businesses the best opportunity to start, grow, adapt and thrive.

Black Business Advisory Committee

In December 2020 we introduced the Black Business Advisory Committee, with leading businesswoman and former Cabinet Office advisor Claudine Reid MBE appointed as Chair. The committee will investigate the barriers to growth for the Black business community, including via rigorous research of the whole business life cycle.

Black Business Advisory Committee event replay

Watch the inaugural Community Conversation event

Listen to the first Community Conversation event where members shared the highs and lows of their personal journeys and held a live audience Q&A.

Black Business Advisory Committee event replay

Community Conversation - Let’s Talk Finance

Watch the committee discuss the challenges faced in the Black business community and tips on seeking the right finance to  start or grow a business. 

Race Action in Enterprise and Entrepreneurship

Hear our panel discuss the barriers faced by Black owned businesses and entrepreneurs, and ways to break down these barriers.

Foundervine

Foundervine, a social enterprise, supports high-potential businesses run by leaders from underrepresented communities. With them we will deliver a four-week course and a number of pitch days focused on preparing businesses run by Black entrepreneurs for investment and linking them up with potential investors.

Visit Foundervine

Black Business Network

Our partnership with the Black Business Network includes sponsorship of the Black Investor 360 event in 2020 and 2021 and the ‘Black. British. In Business and Proud’ three-year research programme to learn more about the business journey for Black people in Britain.

 
Visit Black Business Network

Related links

‘Race Action’ plan

See our press release for details about how Lloyds Banking Group is stepping up their commitment to Black colleagues with the 'Race Action' plan.

Women in business

Are you thinking about starting a business or looking to develop it further, but have concerns about financing your ambitions, juggling personal commitments and/or lack support from a wider network?

Coronavirus support guides

From planning ahead and maintaining your workforce’s mental wellbeing to an overview of available government support.

Important Legal Information

Calls may be monitored or recorded in case we need to check we have carried out your instructions correctly and to help improve our quality of service.

The products and services outlined on this site may be offered by legal entities from across Lloyds Banking Group, including Lloyds Bank plc and Lloyds Bank Corporate Markets plc. Lloyds Bank plc and Lloyds Bank Corporate Markets plc are separate legal entities within the Lloyds Banking Group.

Lloyds Bank is a trading name of Lloyds Bank plc, Bank of Scotland plc and Lloyds Bank Corporate Markets plc. Lloyds Bank plc. Registered Office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales no.2065. Bank of Scotland plc. Registered Office: The Mound, Edinburgh EH1 1YZ. Registered in Scotland no. SC327000. Lloyds Bank Corporate Markets plc. Registered office 25 Gresham Street, London EC2V 7HN. Registered in England and Wales no. 10399850. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 119278, 169628 and 763256 respectively.

We adhere to The Standards of Lending Practice which are monitored and enforced by the LSB: www.lendingstandardsboard.org.uk.

Eligible deposits with us are protected by the Financial Services Compensation Scheme (FSCS). We are covered by the Financial Ombudsman Service (FOS). Please note that due to FSCS and FOS eligibility criteria not all business customers will be covered.