Serial entrepreneur and investor Eric Collins will host new Channel 4 business reality series, The Profit, later this year.
Collins, who was named by the Powerlist as one the most influential Black people in Britain and is among the UK’s top 100 BAME leaders in technology by the Financial Times, takes the helm in the Channel 4 show to show viewers how shrewd decisions can help businesses navigate the post-pandemic economy and still deliver a profit.
The series will follow Collins in his quest to offer not only his expertise but also capital investment to four small struggling British businesses, all hoping to turnaround their fortunes and secure their future.
As The Profit, Collins will help select and personally invest in companies he thinks he can help turnaround.
Once embedded in the company, The Profit will immerse himself into every aspect of their day to day, challenging the business and interrogating their plans and visions for the future. Unafraid to ask the difficult questions, Collins will force the companies to face some hard truths as he uncovers what it is that makes them tick.
“There are so many great businesses in Britain started by talented founders teaming with fantastic workforces.”
With his experience enabling him to quickly spot where both problems and opportunities lie, Collins will make an offer of investment, but any offer of funding will be dependent on him taking the reins and introducing significant changes to current company process.
Passionate about seeing his visions come to life, The Profit will want to see first-hand whether the changes made give them a far better chance to succeed in the toughest economic climate Britain has experienced in generations.
Collins’ involvement in this show is unsurprising; he is CEO of Impact X Capital Partners, a venture capital firm supporting underrepresented entrepreneurs across Europe.
The company is a venture capital firm that focuses on growth stage companies in three distinct sectors: digital and technology, health, education and lifestyle; and media and entertainment.
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With degrees from both Princeton University and Harvard Law School, Collins has made London his base for the last seven years. The Alabama-born Collins has spent his career to date building the value of digital companies through innovative strategies. He has successfully done this at AOL, Time Warner and Microsoft SwiftKey and his forensic business knowledge and unrivalled connections led former President Barack Obama to appoint him to one of the Small Business Administration’s Council whilst he was in the White House.
“I want people to get a better understanding of the world of investment and how it can transform a company no matter what its size.”
Explaining why he wanted to be involved in the series, Collins said: “There are so many great businesses in Britain started by talented founders teaming with fantastic workforces. Over 80% of businesses in the UK are small and medium sized but even previously successful businesses are facing unprecedented challenges. The pandemic has hurt so many, and I want to use my 20 plus years of experience as a businessman and investor to help some companies navigate through these turbulent times, so they survive and thrive.
“This process will involve them facing up to the reality of their situations, making some tough decisions and giving control to someone else, which is never easy. I am thrilled that Channel 4, Kalel Productions and I are partnering to back British business and The Profit. I also want people to get a better understanding of the world of investment and how it can transform a company no matter what its size. I’m delighted to be taking part.”
The Profit will air on Channel 4 later this year.