THE MAJORITY of young black people dream of starting their own business, a new survey has found.

The Prince’s Trust – which helps young people to gain skills and confidence for business and future careers – found that 63% of young black people wanted to be an entrepreneur.

That is a higher figure than average, with 54% of all young people finding the idea of starting their own business more attractive since the Covid pandemic hit.

The Trust, founded by Charles the Prince of Wales, has launched a Black Pound Marketplace to celebrate young black business owners.

One of the entrepreneurs featured, Emmanuel Olaojo, told The Voice that the Trust had helped and encouraged him to set up his health fitness and wellbeing company, CLAN Wellbeing.

Prior to this, Mr Olaojo had been depressed, homeless, and struggled with his mental well-being. 

He said: “Since that pandemic has happened, a lot of people realise that nothing’s really secure. A job can be taken away from you, so what am I left with? 

“A lot of my friends are setting up businesses like hair salons and other things they’re passionate about. And that’s why a lot of people wanted to start a business, because it’s something that’s within them.”

Mr Olaojo channelled the negative experiences in his life – being overweight as a child, and mental health – into a positive with a business that combines a gym and wellbeing sessions.

He recalled the teasing that followed a sports race at school. 

“That kind of triggered me that I don’t let people tell me I can’t do something.

“Most of my friends I started with are either dead or in jail. And for me to come out of that and do stuff in my life is a testament to what I can do. 

“I try to give other people confidence they can start something new.”

Mr Olaojo credits mentoring support provided by the Prince’s Trust with helping him divide his dream into smaller, measurable chunks to create a clear pathway to his overall goal.

The charity has supported 90,000 young people to start businesses since 1983, including some well-known Black figures including Charlotte Mensah and Oswald Boateng.  

They have also supported Black Pound Day and released a video series to share the experiences of young, black entrepreneurs that the charity has helped to start their own businesses. 

Ola Olayinka launched OlaOla, a range of patterned accessories and homeware, after completing their enterprise programme.

She said: “I think it is so important to be part of initiatives and projects that champion Black entrepreneurship and black experiences that are unique to us. 

“It’s important that we use these platforms to share our stories and show others what can be achieved and that it can be done. If it is support you need to bring your business vision to life, it’s important for young people to know that that support is available and how to access it to fulfil their potential.”