Time To Change: A Blueprint For Advancing The UK’s Ethnic Minority Businesses

Professor Monder Ram OBE, Director - Centre for Research in Ethnic Minority Entrepreneurship (CREME)
 
A £100 billion boost to the UK economy is tantalisingly within reach if the country’s ethnic minority businesses (EMBs) are given the right support and their activities are recorded accurately. This is a key finding from a major new report on the UK’s ethnic minority entrepreneurs by my colleagues and I at the Centre for Research in Ethnic Minority Entrepreneurship (CREME).
Grasping this prize requires systemic change. We present a comprehensive set of recommendations – ranging from the need for a national strategy on inclusive entrepreneurship to the importance of local, community-based interventions – that could catapult the already impressive £25bn contribution EMBs make to the elusive figure of 100bn.
Ethnic minority entrepreneurship is a global phenomenon. In OECD countries alone, 12 percent of all foreign-born migrants are self-employed), a figure which is replicated in the...