Black Business Show 2024: A Pivotal Moment for Diversity in Business and Industry

The UK Black Business Show created by founder and CEO Dr. Raphael Sofoluke has consistently served as a platform to spotlight the intersection of entrepreneurship, diversity, and inclusion, and 2024 was no exception. As industry leaders gathered, key themes of authenticity, collaboration, and incremental change dominated the conversation, particularly on the Friday event day. As the founder of an independent Black Estate Agent (www.harperjaynehomes.com) covering south East London, it was an insightful day. From real estate( Kazeem Alli-Balogun really tried to fight for the UK property market terminology) to personal branding, the discussions highlighted the ongoing challenges and evolving opportunities for Black professionals and entrepreneurs across various sectors.

A Call to Action for the Property Industry: Tim Hyatt FRICS and Hannah Awonuga 

One of the most significant moments came from Tim Hyatt (Proprietary Partner, Head of Residential at Knight Frank), a key speaker, who candidly acknowledged the stark lack of diversity within the property industry. His recognition of the issue, coupled with the introduction of a newly formed Diversity, Equity, and Inclusion (DEI) team, signals an important shift. The pledge to work collectively towards change within the industry speaks to a broader need for systemic reform to ensure that everyone, regardless of background, has the opportunity to thrive.

Adding to the conversation, Hannah Awonuga, Group Head of DEI at Knight Frank, offered a sobering statistic: Black applicants are outnumbered 90 to 1 in the sector. This stark disparity highlights the uphill battle for inclusion within property, reinforcing the urgency of Hyatt’s call for change. Both speakers echoed the need for intentional efforts to dismantle barriers and create a more equitable playing field.

Authenticity and Long-term Harm: Reme Nicole’s Insight

Reme Nicole Urubusi (Netflix's Buying London - A luxury real estate reality TV show) delivered a powerful message about the importance of showing up as your authentic self from the beginning. She argued that attempting to conform or appeal to an industry that lacks diversity can lead to long-term harm, both personally and professionally. Nicole’s perspective challenges Black professionals to remain true to themselves while navigating spaces that often pressure individuals to “fit in” at the expense of their identities.

Her words serve as a reminder that diversity is not just about representation but about creating environments where people feel safe to be themselves without fear of professional consequences.

Sponsorship: A Key to Growth, as Lee-Ann Edwards Emphasised

Lee Ann’s (Operations Director, Savills) discussion on sponsorship illuminated another crucial aspect of professional advancement. She stressed that mentorship is valuable, but sponsorship is essential for growth, especially for Black professionals in industries where they are underrepresented. Sharing knowledge and offering time to uplift others into roles is a powerful way to create pathways for success. Her message encourages professionals at all levels to use their influence to help diversify the workforce, ensuring that knowledge and opportunities are passed along to those who need them most.

Retail’s DEI Reckoning: George Floyd as a Pivoting Moment

The tragic murder of George Floyd in 2020 has had a profound effect on global conversations around racial equity, and the reflection on this event as a pivoting moment for many organisations stood out. The panel pointed out that Floyd’s death forced a reckoning in sectors like retail, where diversity and inclusion efforts had often lagged. The panel's insights suggest that while some industries are making strides, the progress is uneven, and more work is needed to ensure sustainable change.

Building Confidence: Acting Like You Belong

A recurrent theme throughout the day was the idea of “acting like you belong.” In industries where Black professionals are underrepresented, it can be easy to feel like an outsider. However, several speakers (including Scarlette Douglas and sibling Stuart Douglas) urged attendees to ask questions, seize opportunities, and operate with the confidence of those who have long been part of the system. This mindset shift, from feeling like an imposter to claiming space, is essential for personal and professional growth. 

Digital vs. In-Person Branding

In today’s hyperconnected world, the balance between digital and in-person brand presence was another focal point. Whether you are building a business, establishing a personal brand, or working within a company, the blend of how you show up online versus in person can significantly impact your career trajectory. As attendees reflected on their own experiences, they were reminded that both realms are vital and require intentionality to succeed.

Embracing Slow and Steady Progress: Alex Ogario's Wisdom

Alex Ogario's (Head of Private Office at Knight Frank Finance) contribution was a refreshing take on career development: marginal swings and slow, steady progress. In an age where quick wins and overnight success are glamorised, Ogario’s emphasis on finding what you love to do and growing in that space at a measured pace is both practical and inspirational. His message underscored the value of consistency and persistence, particularly for those working within industries resistant to change.

Vulnerability in Leadership: A Lesson for DEI

Another recurring theme was the importance of vulnerability in leadership. Ogario’s advice to “be vulnerable in admitting what you don’t know” resonated with leaders across industries. As companies strive to become more inclusive, the willingness to admit gaps in knowledge, especially around DEI, and to seek out expert advice is crucial. True progress will require leaders to step outside their comfort zones and actively engage with these challenging conversations.

The Power of Collaboration: Sanmi’s Insight

Sanmi Adegoke , an inspiring voice from the entrepreneurial sector, highlighted the importance of learning from others. His advice to find someone successful and to “access” their knowledge, even if it means investing time or money, speaks to the power of collaboration. Sanmi’s message is one of humility and ambition—knowing when to lean on others for guidance and being willing to make sacrifices to achieve your goals.

The Taylor Sisters: Resilience in Real Estate

Blow Up Your Life with Stephanie Taylor & Nicky Taylor also shared valuable insights into the real estate market, particularly around rent-to-rent services and Houses in Multiple Occupation (HMO). Their approach of viewing tighter restrictions, such as the Leaseholder Reform Act, as opportunities rather than barriers, exemplifies resilience and adaptability. For savvy individuals, these changes are a chance to innovate and find creative solutions. Their message, “How can I?” versus “I can’t,” captures the entrepreneurial spirit that many attendees took to heart.

Building Community: The Foundation of Success

Dwain Reid, a speaker whose insights resonated across industries, emphasised the importance of community-building. In today’s business world, success is driven not only by the products or services offered but by the relationships and loyalty cultivated along the way. Reid highlighted the value of testimonials and social proof in attracting and retaining customers. For Black-owned businesses, which often face additional hurdles in gaining trust and visibility, these strategies are vital.

Reid also urged entrepreneurs to make the process of referrals simple and frictionless, driving home the point that loyal customers are the best marketing tool. A robust sales funnel, meticulously tracked through CRM systems, can provide essential insights into conversion rates and the costs associated with acquiring leads. Understanding these metrics allows businesses to refine their approaches and ensure efficiency.

Systematising operations was another crucial strategy Reid shared. Repetitive tasks should be turned into procedures to save time, energy, and money—illustrating the importance of creating scalable and sustainable processes. Outsourcing, whether through platforms like Fiverr or specialised agencies, also offers a pathway to focus on high-impact activities while leaving routine tasks in capable hands.

The Kaizen Approach: Continuous Learning and Improvement

Reid’s focus on the Kaizen approach, a Japanese philosophy centered on continuous improvement, was particularly insightful for entrepreneurs. It serves as a reminder to dive deep into unanswered questions, continuously refine processes, and move forward once understanding has been achieved. For entrepreneurs, adopting this approach can help them stay agile, learn from mistakes, and pivot when necessary.

Dean Forbes also spoke to the importance of strategic consistency, pointing out that authentic leadership, especially when driven by routine reflection (through 30-day retrospectives and 5-year planning), creates sustainable results. Cultural sensitivity was also emphasised—leaders who understand and respect the diverse backgrounds of their teams are more likely to succeed.

Storytelling: The Ultimate Business Skill

In a world inundated with data, storytelling has emerged as a key differentiator in building lasting client relationships and closing sales. Michael Heaven, with his impressive 60% lead conversion rate, argued that compelling storytelling is essential for selling. Whether pitching to a client or seeking investment, stories create emotional connections that statistics alone cannot.

Steven Bartlett's session took this further, highlighting that persuasion and storytelling are essential in pitching—success lies in aligning your narrative with the values, mission, and goals of the person you’re trying to convince. This approach allows business owners to step into the mindset of their audience and present their message through the lens of the customer’s perception, creating an emotional connection that drives action.

Bartlett also introduced the RICE framework for pitching:

• Reward: What’s the buy-in for the audience?

• Ideology: How does your message align with the company’s mission or values?

• Coercion: Why are you the better choice?

• Ego: Appeal to the decision-maker’s sense of self-worth.

These pillars of persuasion are integral in converting leads, negotiating deals, and securing long-term partnerships.

Scaling Up: From Sales Funnels to Angel Investors

Scaling a business is a multifaceted challenge, and Saturday’s sessions offered actionable advice for overcoming common hurdles. Cecil Peters from JP Morgan’s Advancing Black Pathways and Michael Heaven's session on team-building and finance underscored the importance of accessing capital. Entrepreneurs were advised to hone their storytelling skills when presenting their case to banks or angel investors. In addition to financials, investors want to understand the person behind the idea—their vision, passion, and resilience.

Phillip Dominique also shared insights on creating value for customers in areas with growth potential. Entrepreneurs need to think strategically about tomorrow’s challenges and not just focus on the daily grind. Dominique emphasised that businesses must place the right people in the right roles at the right time, aligning human resources with strategic objectives. This ability to foresee future needs and adapt to evolving market dynamics is essential for success.

Authentic Leadership and Self-Promotion

Authenticity was another key theme of the day. Dean Forbes reinforced that consistent, authentic leadership across all roles drives results. He pointed out that a single toxic individual can destroy even the best ideas—making hiring and team culture a crucial part of business success. Leaders must be sensitive to the cultural contexts in which their teams operate, ensuring that everyone feels valued and understood.

Forbes also highlighted the need for leaders to embrace self-promotion, encouraging entrepreneurs to boldly share their successes and take pride in their work. In a world that often discourages self-promotion, especially for Black professionals, this message was a powerful reminder of the importance of owning and showcasing one’s achievements.

Personal Reinvention and Growth

Michaela Jeffery-Morrison, founder of the Women in Tech World Series, discussed the importance of personal reinvestment as a tactic for growth. Entrepreneurs should regularly reflect on their own development, not only investing in their businesses but also in themselves. Whether through ongoing education, mentorship, or networking, personal growth is a fundamental component of long-term success.

Meanwhile, Afua Hirsch, a keynote speaker, emphasised the importance of being non-negotiable in one’s identity, particularly in the context of Blackness. Hirsch encouraged attendees to avoid seeking societal acceptance at the expense of authenticity, as doing so can hinder both personal and professional growth. She also highlighted the power of storytelling, especially when knowledge is embedded in entertainment—an approach that can challenge societal norms and empower marginalised voices.

Resilience, Curiosity, and Consistency

A recurring theme from all the speakers was the need for resilience. Entrepreneurship is filled with challenges, and the ability to persevere in the face of adversity is essential. Speakers stressed the importance of maintaining a growth mindset, continually learning, and adapting. Afua Hirsch reminded attendees that failures should be seen as learning opportunities, not setbacks—each failure brings valuable insights that can inform future success.

Steven Bartlett’s advice to embrace imposter syndrome as a sign that you are exactly where you need to be was an empowering message. Confidence, he argued, is built through evidence and repetition. The more you step out of your comfort zone, the more you’ll prove to yourself that you belong, gradually shifting from self-doubt to self-assurance.

UK Black Business Show 2024: Lessons from event days - Scaling, Storytelling, and Strategic Growth

The UK Black Business Show is more than just an event; it’s a movement for empowering Black professionals, entrepreneurs, and changemakers. The main event day of the 2024 show highlighted key lessons in leadership, scaling, resilience, and storytelling, with insights from some of the most successful and inspiring figures in business today. 

As the conversations evolved, a clear focus on community-building, strategic planning, and the power of storytelling became central themes. Here’s a closer look at some of the most powerful takeaways from Saturday’s sessions I attended.

Final Thoughts: The Road Ahead and the Power of Strategic Alignment

The 2024 UK Black Business Show reminded me that while the path to equity and success for Black professionals is still fraught with challenges, there are also opportunities. Through intentional DEI efforts, personal authenticity, sponsorship, collaboration, and the willingness to ask questions, the community can continue to push for systemic change.

As the speakers reflected on the progress made and the work still to be done, the overarching message was clear: success, both individual and collective, requires us to act like we belong, to be vulnerable in our leadership, and to work together. In doing so, the hope is that industries—whether property, retail, or real estate—will not only open doors but also create spaces where everyone can thrive.

As the day concluded, one key message remained clear: success in business isn’t just about having the right idea, it’s about strategic alignment. Entrepreneurs must align their operations, teams, stories, and even their personal growth strategies with their broader business goals. From Cecil Peters’ emphasis on JP Morgan’s internal DEI processes to FLAKE BAKE Mike Williams’ success in securing a major contract with Aldi, it’s evident that businesses thrive when they operate with intentionality and clarity.

The main event day of the UK Black Business Show was a masterclass in entrepreneurship, filled with actionable insights on scaling, community-building, and authentic leadership. The path to success may not be easy, but with the right strategies and a commitment to continuous learning, Black entrepreneurs can continue to push boundaries and redefine what it means to succeed in today’s business landscape.