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

The committee will investigate the barriers to growth for the Black business community, including via rigorous research of the whole business life cycle.

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

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.

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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.