Firms owned by ethnic minorities in UK struggle to recover
Such businesses are over-represented in sectors that have been most adversely affected by Covid-19, including hospitality and retail
01 April 2021 - 09:27
UK businesses owned by ethnic minorities risk missing out on the post-pandemic economic rebound, exacerbating existing inequalities that were exposed by the coronavirus.
A survey by the British Business Bank in October found 61% of Asian and other minority-owned enterprises had paused or permanently stopped work because of Covid-19. The figure was one-and-a-half times that for white-owned businesses. Now a report published on Wednesday by the Commission on Race and Ethnic Disparities said they were less likely to seek business funding because of “perceptions of a systemic disadvantage”...
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