Action for Race Equality is partnering with Islington Council, who have launched a new business support scheme aimed at helping fledgling entrepreneurs from underrepresented groups to make their business a success.
The Inclusive Entrepreneurship Programme will support early-stage entrepreneurs from underrepresented groups, particularly young people (those aged under 30) from Black, Asian, and Minority Ethnicity backgrounds who often face disproportionate and significant barriers to success compared to their white counterparts.
In the UK, businesses run by Black entrepreneurs are almost twice as likely not to make a profit as those run by White entrepreneurs.
The programme will also be open to female entrepreneurs and/or those with disabilities – as the Council is keen to support start-up businesses from these groups.
To help address these barriers, the £150,000 programme run by ARE are providing tailored business support through a mix of one-to-one sessions with a consultant, masterclasses, and peer-to-peer learning groups. As part of this, we will administer a £136,000 total seed funding pot to support entrepreneurs get their ideas off the ground.
photo: © Alastair Rae