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There
are 250,000 businesses owned by ethnic groups in the UK. These
contribute about £13 billion every year to the country's
economy. Ethnic minorities businesses are becoming a growing
economic force.
Asian
businesses
Asian communities have a higher rate of self-employment
than the national figure. This is because there is a strong
motivation to be independent and an interest in entrepreneurial
activity.
A
factor shown by the research is that Asian entrepreneurs
start their business because it was something that their
fathers and forefathers had done and therefore a family
tradition.
African-Caribbean
businesses
Just
seven percent of Afro-Caribbean people are self-employed compared
with 21% of Indians and 22% of people of Pakistani or Bangladeshi
origin. Black business owners tend to start a business because
of lack of employment opportunities. African-Caribbean business
people are mainly sole-traders, the top ten popular businesses
being in hairdressing/beauty salon and the building trade
Black
people feel that it is more difficult for them to start
a business than it is for either whites or Asians, particularly
when it comes to borrowing money. However, in recent years
black business owners have noticed a gradual change in
the culture of the lending banks.
Share
Your Experiences
Are
you an Asian or Black entrepreneur? Are you willing to
share your experiences on why and how you started your
business, on whether you faced any obstacles or received
useful advice or help. Why not get in contact with us
email us at:
info@businessvision.co.uk
Useful
Websites
Asian
Business Federation
The Asian Business Federation is a non-profit making organisation.
It's aim is to maximise sustainable growth, facilitate and
increase integrated working for both Asian and non-Asian businesses.
Tel:0845 607 0786
www.abfed.co.uk
European
Federation of Black Women Business Owners
Is
a non-profit making organisation, set up to provide support
network for Black Women Business owners. Address: Suite One,
Two Tunstall Road, LONDON, SW9 8DA
Tel 020 7978 9488
Fax 020
7978 9490
Email: asapcoms@dircon.co.uk
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