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Black, British in Business & Proud Report  2021- cover

BLACK. BRITISH. IN BUSINESS & PROUD.
 

 

A report centred around the entrepreneurial journey of black business owners around the UK.

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"Black. British. In Business & Proud” is the only study in the UK that considers the complete entrepreneurial life cycle for Black business owners in Britain. From ideation to a sustainable business model, the preceding analysis that informs this report is shaped by the voices of more than 1000 Black people in Britain; consisting of students, employees, business owners and established entrepreneurs from social enterprise, B2B and B2C industries."

2 in 5 (43%)

Only 2 in 5 (43%) business owners trust banks to have the best interests of Black entrepreneurs in mind

1 in 4 (23%)

 Funding remains the top support needed, with marketing & PR close behind. Nearly 1 in 4 (23%) need financial skills & cashflow management support 

1 in 4 (23%)

Nearly 1 in 4 (23%) need financial skills & cashflow management support & 1 in 5 (19%) need help in understanding funding and eligibility criteria

6 in 10  (61%)

Six in ten (61% Black solopreneurs had an annual turnover of less than £20,000.

2021

Our 2021 Black. British. In Business & Proud research was a fact-finding mission to understand the challenges and barriers that Black entrepreneurs are facing and the potential ways forward that would enable them to grow and thrive. The findings were unfortunately not surprising but a stark reminder of the pervasive way that race, discrimination and inequality continue to cause an economic divide and hinder progress for ethnic minorities. As a result, our findings in 2021 led to 10 recommendations as a charter for action.

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2022

For our 2022 Black. British. In Business & Proud report, our focus was to assess the impact of barriers Black entrepreneurs said they were facing, such as discrimination, racism and concern about equal access to opportunities. We also wanted to measure the positive impact of the recommendations and actions we started to implement following last year’s findings. Part of our responsibility as community-centred support is to investigate and communicate the barriers that continue to prevent the financial growth and stability of Black businesses. We are aware that no singular action or organisation will solve these problems, but we continue to commit to collaboration and taking action with our 5-point Action Plan.

Black. British. In Business & Proud. The...
Black. British. In Business & Proud - Our Community Story

Black. British. In Business & Proud - Our Community Story

Black entrepreneurs have a long history in Britain of innovation, creativity and endurance in business; from hair & beauty giants Dyke & Dryden, to the property ownership of Caribbean & African migrants, and the political power of the Mangrove restaurant and Notting Hill Carnival. We add to the richness of British economics and to the fabric of British culture. It’s time that our contributions are documented and counted for our own benefit. ​Through the Black. British. In Business & Proud research we are doing just that and we want to showcase some of the amazing Black owned businesses that have brought Black Britain this far! Thank you to: Gapless Limited https://www.myshirtisgapeless.com/ Favour Events https://www.favour-events.com/ The Safety Box https://www.thesafetybox.org/ BlackOut UK https://blkoutuk.com/ Ultra Education https://ultra.education/ Black Women in Business Awards https://www.bwbawards.com/ The Black. British. In Business. & Proud survey is a collaboration between Black Business Network, Lloyds Bank & Savanta. This supportive research is led by the black business community to focus on the root causes behind the disparities we see in business growth & entrepreneurship; and more importantly, how we move forward together to create the equality we want to see in British Business. The first findings will be released in September this year and will continue over the next two years to test the progress we’re making. The tangible outcomes of the survey: 🎯 An action plan to support Black entrepreneurs in future-proofing their businesses 🎯Produce tangible products via Lloyds Bank's Black Business Advisory Committee that positively impact Black entrepreneurs moving forward 🎯Lead by example and set a standard for the engagement and support of Black entrepreneurs If you’re a Black entrepreneur, business leader or just starting out take part in this short 15mins survey and join 100’s of Black British entrepreneurs making their voices heard. TAKE SURVEY NOW https://www.blackbusinessnetwork.online/survey 👊🏽👊🏾👊🏿
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