Building on the success of a pilot in 2021, this joint programme will provide an effective strengths-based pathway for young entrepreneurs in Bristol. Our aim is to help young people through business support, mentoring, networking events, investing opportunities, peer-to-peer support, office space and more so that they can build impactful social businesses that also contribute towards making Bristol’s economy more diverse and inclusive.
Opulence Growth’s Pilot Year
In 2021, Opulence worked alongside 6 entrepreneurs all from different backgrounds working in different industries to build a course that would help them all in the best way possible to build their social enterprises.
The Problem: Bristol’s Opportunity Gap
Supporting marginalised young people (16-25 years) to reach their potential and tackling inequalities.
The Equality Gap
- Inner city Bristol 7th worst district in England and Wales for ethnic minority communities to live and thrive.
(University of Manchester and Runnymede Trust, Bristol: A City Divided?, 2015) - Minority ethnic background unemployment x2 higher in Bristol than national average (6.4% compared with 2.9%)
(Bristol City Council’s Annual Population Survey, Apr 2017 – Mar 2018) - The next generation of purpose-driven business is likely to be significantly more diverse as people identifying as Black, Asian or from minority ethnic backgrounds are more than twice as likely to consider starting a social enterprise (23%) than their white counterparts (10%).
(UnLtd, 2020)
The Need: Providing tangible support for under-represented young entrepreneurs
- “UK entrepreneurs from Black, Asian or minority ethnic backgrounds are less likely
to access finance, […] they are less likely to make a profit, and that their businesses face worse outcomes despite success rates to their white counterparts”
(Commission on Race and Ethnic Disparities (March 2021) - 44% of Babbasa enquiries over the last 12 months were interested in enterprise
(Babbasa Beneficiary Expressions of Interest, 2021) -
During the pandemic over 400K small businesses have been formed and a record number are predicted over coming years. More young entrepreneurs than ever will need our support, especially those that are part of the minority groups in our local area.
OUR 2021
£250,000+
in revenue generated by our entrepreneurs’ business during 2021
100%
free to all our entrepreneurs
50+
paid work opportunities created by the entrepreneurs
6
entrepreneurs given 1-1 intensive support
How the programme will run:
Our 2022 targets:
25+
Young entrepreneurs supported by Babbasa’s Bright Ideas Programme with 10+ referrals
30+
Young entrepreneurs to start businesses through Opulence Growth’s flagship programme
350,000+
In revenue generated by entrepreneurs’ businesses during 2021
30+
Volunteer professional mentors
70+
Paid work opportunities created through start-ups
How can you support?
We would appreciate the backing of Bristol’s communities and businesses to help give more opportunities to Bristol’s young entrepreneurs for them to have the best chances of success.
– Become a partner and help fund our unique Enterprise Programme
– Become a Mentor
– Help us run masterclasses/workshops
– Help fund a specific start-up
– Offer work/events space
Enquire about supporting:
