Channel 4 has unveiled a business reality series amid “unprecedented challenges” for small companies in the pandemic.
The Profit will be hosted by Eric Collins, who was appointed by Barack Obama to a business and diversity group in the US.
An investor and serial entrepreneur, he will offer expertise and capital investment to four small, struggling British businesses, in return for “taking the reins”.
Executive producer Nick Parnes said: “Eric is a shrewd, business-savvy investor. He will invest in struggling companies in return for equity, becoming temporary boss and giving the businesses a financial makeover.
“He needs to make it work in order to turn a profit. And save companies and jobs in the process.”
US-born, London-based Collins was named by Powerlist as one of the most influential black people in Britain.
He is the chief executive of Impact X Capital Partners, a venture capital firm supporting underrepresented entrepreneurs.
Collins said: “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.”
Becky Cadman, commissioning editor for factual entertainment at Channel 4, said: “With British businesses facing unprecedented challenges, it could hardly be more timely.”