Enterprise Development Programme
Research by Do It Now Now found that approximately 60% of the financing sources for UK Black-led organisations are the personal savings and employment income of their directors, while just 20% come from grants. There is a need for organisations to access alternative sources of finance to grow their businesses.
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Our solution? An enterprise development programme specifically for Black and Ethnic Minoritised-led enterprises
After a rigorous selection process run by an independent committee, Do It Now Now has been chosen as the first intermediary to deliver this programme. Do It Now Now will select 12 enterprises to receive grant capital and capacity-building support.
The 12 enterprises will receive a participation grant of £3,000 each and an average repayable grant of £30,000. Repayment will be contingent on raising further funding and the amount repayable will be linked to the amount of further funding raised.
Enterprises will be able to improve their financial resilience and secure investment to build up their operations as well as further their ambitions in acquiring assets.
