Business owners outside London now have a substantial opportunity to gain financial and strategic support, as £150,000 in funding is available to North-West entrepreneurs from disadvantaged backgrounds.
The initiative invites ten applicants to pitch their business ideas in a Dragons’ Den-style event during Global Entrepreneurship Week, taking place from 18-25 November. Qualifying applicants must come from less advantaged backgrounds and have an existing business of 2-3 years that demonstrates a commitment to societal impact alongside commercial success. Following the pitch event in Manchester, a panel of local entrepreneurial talent will shortlist four candidates, from which the final winner will be selected.
The decision to base the programme in Manchester was driven by insights from a YouGov business survey, revealing that 40% of less advantaged under-35s in the North West feel there are limited opportunities for starting a business, compared to just 19% in London. This funding aims to bridge that gap by providing crucial financial aid and mentorship.
Supported by the Greater Manchester Chamber of Commerce and the Media Trust, the programme will raise awareness through a dedicated advertising campaign across Manchester. This initiative not only offers funding but also underscores the importance of nurturing businesses with a purpose beyond profit. Entrepreneurs who can illustrate a significant societal impact stand to benefit the most from this opportunity.
By empowering entrepreneurs from disadvantaged backgrounds, this initiative aims to foster a more inclusive and diverse business landscape in the North West.