Dr Yaz Osho, Senior Lecturer in Entrepreneurship, wrote an article for Pioneers Post about what kind of support is needed to support Black and minority ethnic social entrepreneurs.
In the article, Dr Osho shared insights from discussions with Izzy Obeng and Bayo Adelaja, who both created ventures that make it easier for other minority founders to grow their businesses. She wrote: “With people from Black and minority ethnic (BME) backgrounds reporting that they feel unwelcome in the social sector, it is vital to have open, honest conversations on the experiences of BME social enterprise founders, and to highlight what can be done to tackle the issues that they raise.”
She also discussed financial barriers for BME social entrepreneurs, and wrote: “In 2020, the UK’s Federation of Small Businesses called on the government to introduce a dedicated scheme to help BME-led businesses to access external finance…To safeguard the sustainability of BME social enterprises, the government should create specific funds and tailored support aimed at BME social enterprise founders.”
She added: “This support should consider the particularities in outcomes and needs within the BME umbrella. For instance, BME communities are disproportionally impacted by COVID-19, and are also less successful in securing formal sources of financial support, such as loans. It is by fully understanding these differences in outcomes, challenges and needs that targeted support and programmes can fully engage with interventions that create lasting social impact.”
Read the full article on the Pioneers Post website.
