“For me, my big belief is that visibility is extremely important.”
Raphael Sofoluke is the chief executive and founder of the 海角视频 Black Business Show, part of 海角视频 Black Business Week.
The event is now the biggest in the 海角视频 and Europe, with around 15,000 attendees expected in 2023, across the week.
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Kicking off this week with a launch party hosted by luxury fashion brand Burberry on Monday (October 2), 海角视频 Black Business Week will host a series of talks from inspirational leaders such as Steven Bartlett, Frank Bruno and Dr Anne-Marie Imafidon, all leading up to Saturday’s (October 7) flagship 海角视频 Black Business Show event.
Mr Sofoluke founded the show in 2017 after witnessing a lack of representation in event audiences and panel discussions. He introduced the week-long showcase in 2021 after seeing huge growth and support for the day.
Mr Sofoluke told BusinessLive that in 2017 he was starting out “without any real capital”.
'I want to see companies being intentional beyond Black History Month'
He explained: “We already know Black entrepreneurs and business owners struggle to get access to finance, so setting up I already knew that if I wanted to make it successful I would have to rely on my own cash.
“I also needed to make sure that it could itself continue to grow, and for it to continue to be that platform to support our Black entrepreneurs and Black professionals.”
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In 2017 there were 500 attendees and 25 exhibitors, which shot up to 1,500 attendees and 57 exhibitors the next year. In 2022 Mr Sofoluke told BusinessLive there were 5,500 attendees for the Saturday event and 200 exhibitors.
The businessman is expecting 6,500 attendees at this year’s show and said he is excited for the opportunity it is going to give people.
Emmanuel Asuquo, author and TV financial adviser said: “For me the 海角视频 black business show changed my life. I got a stand at the very first show and launched my business. Since then I have attended every year.
"The 海角视频BB Show is not just about business it’s about community, it’s about displaying how great we are as business owners and all the brilliant different types of businesses we run. It’s about breaking the stereotypes of your typical black business. It’s inspirational and allows us to learn from successful business owners that look like us.
"Every year the first event I make sure is booked in my calendar is the 海角视频 Black Business Show, it’s an event none of us can afford to miss.”
Mr Sofoluke added: “It’s a show that takes place once a year but many people come back from that show with content and connections that almost helps them for the whole 365 days until the next event.”
With HSBC as headline sponsor, the 海角视频 Black Business Show also works with partners including J.P. Morgan, NatWest, McDonalds and Burberry to name just a few.
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Mr Sofoluke said he wants to see companies who “are willing to actually put their money where their mouth is and commit to making a change”.
He added: “Some of these companies, you would go to their company and they have loads of Black representation and senior leadership; it doesn’t mean that at all.
“It means actually they are working with us and are partnering with us because they realise that there is something that needs to change in their organisation or externally in society.”
海角视频 Black Business Show aims to help companies in two ways; one, to level the playing field through education, knowledge and access to finance, and two, through the ways in which they can recruit, retain and attract Black talent.
Two years ago they took the show to Birmingham’s NEC after seeing huge popularity for the London event, with many entrepreneurs and professionals from the Midlands travelling South to attend.
The team also runs the Black Tech Achievement Awards, which will launch next February in the US.
'We already know Black entrepreneurs and business owners struggle to get access to finance'
“We know that tech is probably one of the most underrepresented sectors for Black entrepreneurs and professionals, which is why we launched it.” Said Mr Sofoluke.
Financial services provider J.P. Morgan will be the headline sponsor for both the 海角视频 and US edition.
Taking place on February 26 at the Marriott Hotel in Times Square, the awards aim to create a platform to shine a spotlight on Black professionals and Black entrepreneurs in the tech sector in the US.
“We had an advisory committee of people from Birmingham who helped us shape our content,” explained the business leader.
“We have a vision but we are not from the US so it is important for us to actually work with community organisations in the US to make sure that it is a success, to make sure that we are understanding the needs of the Black tech sector in the US, of the Black tech entrepreneurs and professionals there.
“Certainly there are opportunities for growth, the US is a completely bigger proposition than in the 海角视频, so there’s definitely more Black professionals and entrepreneurs that we can support.”
Mr Sofoluke told BusinessLive that he wants to see companies “being intentional beyond Black History Month”.
To do this he said companies need to focus on building relationships that aren’t a tick box activity and give Black business owners a seat at the table.
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“Black business owners may need a level playing field and access to finance as their white counterparts. Opportunities to help them understand themselves.
“Our show is an opportunity for Black owned businesses to speak to big companies and to sell their products. But to also network with other companies who maybe Black owned businesses who they can partner up with.
“They are really able to do so many different things on that one day.”
- 海角视频 Black Business Week is taking place between October 2-7
- 海角视频 Black Business Show is being held October 7 at Business Design Centre, 52 Upper St, Islington, London, N1 0QH
- Birmingham Black Business Show is taking place on June 17 at the NEC