Equal-Works

Background

The UK Trade and Investment body has acknowledged the need for the UK to tap into the diversity of minority owned business and exploit their connections with countries of origin such as India and China. The ongoing economic development of these countries provides the entrepreneurial talents of Indian and Chinese descendents in the UK with additional opportunities at non-conventional businesses between the respective countries. Some of this is already occurring but informally and with no real structure or coherent mass.  We believe there are lessons to be learnt from minority owned businesses in other European countries and the connections they have with their countries of origin – Vietnamese, Turkish, Chinese, African and Caribbean. We want to collaborate with Business Networks working with these groups in such countries to assist in the the economic regeneration of inner-city areas.

Aims 

This project will seek the exploitation of international connections across Diaspora groups to increase the number of minority ethnic people going into self-employment, accelerate the growth of these businesses and increase their chances of success.  The programme aims to promote:

• New enterprise and business support models
• Stronger links between mainstream agencies and minority communities
• Better  understanding of the needs and priorities of entreprenuers from minority communities  

Objectives 

• Open up more opportunities for minority entrepreneurs to grow their businesses
• Increase the survival rates of these businesses through stronger business networks
• Accelerate minority businesses rates of growth and impact on employment levels
• Transitioning target businesses from the informal to the formal business sector
• Establish a Minority Business Diaspora Interchange will facilitate greater exchange of business ideas, finance, products and services across respective Diaspora in UK, Europe and globally. Building on the lessons learnt from the EQUAL 1 programme led by Business Link for London – “The Knowledge Centre on Black & Minority Ethnic Businesses”, it broadens coverage from London to a national level through additional partners in the UK Business Link Network and Regional Development Agencies with a remit for enterprise support.

Target Groups

MBDI partners work with Black, Asian, and other ethnic groups.  

In the course of EQUAL 1 we identified the latent potential for minority individuals and businesses to create increased employment opportunities in urban areas through growing their businesses more successfully and by greater use of their international business and social connections. Round 1 looked specifically at the interactions between mainstream business support and minority businesses.