Posted: Thu 10th Aug 2023
We've partnered with TikTok to launch our new grant fund, which will offer financial support and mentoring to businesses that are driven by our core values.
The Enterprise Nation Fund has pledged to deliver three £5,000 grants, 12 months of one-to-one mentoring with an expert entrepreneur, and an epic bundle of targeted resources worth thousands of pounds.
At the same time, TikTok will provide access to ads specialists in its London office. Those experts will give the winning businesses guidance on how to build their brand presence and drive sales on TikTok's platform.
The core values
The fund aims to champion the businesses that reflect Enterprise Nation's three core values, and will be accepting entries from businesses that excel in the following areas:
Entrepreneurial: For businesses driven by a creative and innovative spirit. The winner of this category will be mentored by Timothy Armoo, co-founder of social and influencer agency Fanbytes, who was only 27 when his business was acquired in a landmark eight-figure deal.
Trusted: For businesses trusted by customers and the people who hold a stake in it. This category's winner will be mentored by Mike Turner, co-founder of Bird & Blend Tea Co., the UK's most loved indie tea company. The award-winning brand offers eco-friendly tea and is B-Corp certified.
Community-led: For businesses centred around their community. This winner will be mentored by our founder Emma Jones. Emma has taken Enterprise Nation from a start-up to projected £8 million revenue in 2023, delivering a digital platform that supports small businesses in the UK and Ireland and beyond.
The prizes and how to apply
Entries open on 10 August 2023 and close on 14 September 2023. A shortlist of 30 successful entrepreneurs (10 in each category) will then go to a public vote, with finalists progressing to the judging stage. The winner will be announced on 26 October 2023.
The three winners will receive the following prizes:
A £5,000 grant
Monthly mentoring sessions for 12 months with an experienced entrepreneur who will guide and support their business growth
The chance to meet a dedicated ads specialist at TikTok's London office, who will help them develop a tailored media plan to get their business started on TikTok
£500 credits to spend on VistaPrint.co.uk
Access to the Santander Navigator 'Prepare' package worth £1,800, for support with international growth
A 12-month Adobe Creative Cloud All Apps membership, worth £596
On the new partnership and grant fund, Emma Jones said:
"We truly believe in the power of entrepreneurial spirit, trust and community. These are the qualities that best reflect our values and we want to celebrate and reward businesses that share that vision.
"By launching our own fund with TikTok, we hope to create a legacy that will help the next generation of businesses to collaborate and support each other in innovative ways."
In a recent study from Oxford Economic, SMEs' activities on TikTok contributed £1.63 billion to the UK's GDP in 2022, and those businesses that used TikTok as an advertising and marketing platform for growth supported 32,000 jobs during the same year.
The study also found that owners of SMEs on TikTok are 55% more likely to be ethnic-minority entrepreneurs and aged under 30.
Lisa Friedrich, TikTok SMB leader in EMEA, said:
"At TikTok, we're incredibly humbled by the inspiring small businesses that come to our platform every day to promote and sell their products.
"TikTok has become a key part in their marketing strategy, as an affordable and engaging way drive sales and we're very proud of the role we're able to play in breaking down the barriers to starting a growing a business.
"We're delighted to support the Enterprise Nation Fund and hope it will inspire a wealth of passion, creativity and innovation in the small business community."
The Enterprise Nation Fund
Take your business to new heights with a £5,000 grant, a year of mentoring with an expert entrepreneur, and a bundle of prizes designed to support your small business. Apply now