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Why Black Businesses Fail When It Comes To Finance

Earlier this month, Plantmade’s founders announced they would be stepping away from the company.

Plantmade, a UK-based hair and beard wellness brand, has been cited as a modern success story of Black British entrepreneurship. Launched in 2020 during the pandemic, the brand quickly built a loyal following not just for its non-toxic formulas, but also for co-founder Ama Amo-Agyei’s social media videos sharing no-nonsense insight into the reality of building a business.

Since the announcement of the original founders’ departure, conversations have been unfolding online. Some users have expressed sadness while others delve into deeper questions: why do so many Black-owned companies struggle when it’s time to scale?