'Black businesses are thriving in London - why can't we have this in Manchester?'
manchestereveningnews.co.ukBusinesses owned by people of ethnic minority origin struggle to raise funds in Greater Manchester compared to London, according to a new report.
The study commissioned by GM Business Growth Hub found that despite contributing more than £25bn to the UK's economy and employing more than 1m people, only a fraction of ethnic minority businesses are tapping into available resources.
Lack of generational wealth, business know-how and networks are the key barriers for these businesses, according to the report commissioned by GM Business Growth Hub.
It argues that overcoming these barriers would boost Greater Manchester's economy. The ‘Barriers to Inclusion Research’ report, written by The Black United Representation Network CIC (BURN), recommends creating customised business support and establishing a Diverse Founders Investment Fund which targets ethnic minority-owned businesses.
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