Steven Bartlett, the multimillionaire Dragons Den investor, is planning to run a money school for the Grenfell Tower community to educate potential entrepreneurs.
The 30 year-old wants to offer free weekend workshops with other financial advisers after being asked for help by people affected by the 14 June 2017 disaster, which claimed 72 lives.
Many of them are working on their own businesses and community organisations. Compensation negotiations in the high court, which involve 1,100 people from the Grenfell community and demand recompense from companies involved in the disastrous refurbishment, as well as the landlord of the council tower block, are close to their conclusion. The process could result in millions of pounds in payouts.
The fire adversely affected more than 85 businesses in the area, according to the Portobello Business Centre, and Bartlett became involved with people in the North Kensington community after meeting some of the players involved in the football team that was founded after the fire, Grenfell Athletic.
Entrepreneurship was everywhere, he said. I think every other person I spoke to wanted to start a business. Young people were pulling me aside and saying, Would you mind coming down here and talking to us about money? Bartlett said that some of them had been given some money in the wake of the tragedy and they had reached out to me asking me to hold a workshop in Grenfell. I'm helping them understand tax, savings, investing, and all these things. The investor's move came as the Grenfell community awaits the conclusions of a public inquiry later this year, which has heard about government failures to regulate the construction industry and how companies that made the combustible cladding knew how dangerous their products were.
Despite being part of one of the richest boroughs in Britain, North Kensington, where the 24 storey tower is located, is one of the most deprived areas of the country, according to the government's index of multiple deprivation. Bartlett, who grew up in Plymouth and was twice expelled from school, said he wanted to help young people from disadvantaged backgrounds learn money in a way that I didn't when I was growing up. Bobby Ross' father, Steven Power, died in the flat they shared. Ross co-founded Our Power Hub, a community-interest company that helps residents living near the tower with free access to events, activities, and services, including technology, music, sport, fitness, art, and group therapy.
Bartlett presented Grenfell Athletic with two minibuses donated by Mercedes-Benz, which will be used by local groups, including Mind Utd FC, a football team for people struggling with mental health problems.
Joseph John, 31, a chef who runs Mind Utd and escaped the fire through a window with his partner and child, said he's going to get more involved now and try to help us grow. He wants to help creating a community kitchen and said Bartlett would advise on how survivors should handle compensation payments when they come.
The next kin of people who died in the fire have already received donations from donations raised by the London Emergencies Trust and other organisations in the aftermath of the fire, according to Charity Commission records. People who were seriously injured and each household in the tower and neighbouring Grenfell Walk received donations from fundraising initiatives.