A London-based entrepreneurial duo have won a national business award and mentoring from the founder of the MOBO Group after launching an online marketplace for black-owned businesses.
Wakuda was created by Albert Larter and Nathaniel Wade to champion and support independent black-owned businesses across the UK.
Launched in August 2020, Wakuda has more than 2,000 products from 300 businesses for sale online. Most its products – which range from candles and clothes to home décor and skincare – are ethically sourced with 70% of all items either organic or vegan. The business also provides workshops, idea generation support and photography to customers.
Now Wakuda is focused on growing beyond the UK by entering overseas markets. Both the US and mainland Europe are targets over the next two years, with Germany, France and Spain priorities. It is also hoped that the web-based platform will become an app over the next two years to reach an even wider audience.
Wakuda has been named a winner in the Lloyds Bank Small Business of 2021 awards, which celebrates small businesses across the UK. It was selected in recognition of its support for the black community by providing skills and a platform for business owners to sell their products.
The prize is a mentoring session with Kanya King CBE, founder of the MOBO Group. Kanya will provide insight and support that will help Wakuda navigate new opportunities and grow internationally.
Albert Larter, co-founder of Wakuda, said: “Supporting the black community is at the core of what we do. From personal experience, we know black people can face challenges when finding the right resources to set up a business.
“We’ve had a really successful start to the business with hundreds already selling their products with us. Being solely online, too, means we can explore other markets overseas when the time is right. We’re really excited for our future and hope more people join our community as we look to grow.
“Winning the mentoring sessions is also huge for us. Kanya King started the MOBOs for similar reasons that we started Wakuda – to provide a more diverse platform for talent to thrive. I’m keen to get advice on how we can continue to grow and manage such a big initiative for years to come.”
Paul Gordon, managing director of SME and Mid Corporates at Lloyds Bank, said: “Wakuda’s passion to support the black community is key to its success. By providing an online community for people that may otherwise have struggled to set up a business, it is helping a network of hundreds succeed and ultimately thrive on their own. Wakuka is truly deserving of this award and I’m looking forward to watching them grow for years to come.”
