Channel 4 has announced new business reality series, The Profit.
The new four-part show will be hosted by serial entrepreneur and seasoned investor Eric Collins.
Channel 4 say the show "will seek to show that shrewd decisions can help businesses navigate the post-pandemic economy and still deliver a profit."
They share: "The series will follow Eric, CEO of Impact X Capital Partners, a venture capital firm supporting underrepresented entrepreneurs across Europe, 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.
"Collins 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. He also recently joined the board of Tech Nation, a government backed organisation which helps UK startups. As The Profit, Eric 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, Eric will force the companies to face some hard truths as he uncovers what it is that makes them tick.
"With his experience enabling him to quickly spot where both problems and opportunities lie, Eric will make an offer of investment, but any offer of funding will be dependent on Eric 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."
The show will be produced by Kalel Productions and supported by Dell Technologies.
Becky Cadman, Commissioning Editor for Factual Entertainment at Channel 4 said today: “This dramatic format reinvents the business make-over space in a compelling way, following one of the country’s most brilliant venture capitalists as they stake not just their reputations – but their own money – on helping struggling businesses.
"With British businesses facing unprecedented challenges, it could hardly be more timely.”
Eric Collins added: "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.