New Aston University report sets out blueprint for advancing the growth potential of ethnic minority businesses in the UK

May 10, 2022

4 min

Monder Ram


  • The Centre for Research in Ethnic Minority Entrepreneurship (CREME) has partnered with NatWest for the Time to Change report
  • It sets out ten evidence-based recommendations for advancing the growth potential of ethnic minority businesses (EMBs) including increasing their GVA contribution from the current £25 billion a year to £100 billion
  • The report is being launched at a special event on 10 May at NatWest Conference Centre in London with keynote speaker Sir Trevor Philips OBE.


A new report from Aston University has set out a plan for advancing the growth potential of ethnic minority businesses (EMBs) in the UK.


The Centre for Research in Ethnic Minority Entrepreneurship (CREME) has partnered with NatWest for the Time to Change report which sets out ten evidence-based recommendations to promote greater success and inclusion of ethnic minority businesses (EMBs) in finance and business support in the UK.


Experts say the implementation of the recommendations could help tackle the multiple barriers faced by EMBs, particularly in accessing finance, markets and quality business support, and could increase their GVA contribution from the current £25 billion a year to £100 billion, highlighting the significant potential of EMBs to the UK economy.


The report says that to combat racial inequality, there should be a UK-wide support for ethnic led businesses should be a standard feature of all future plans. This includes integrating them into broader policy agendas of inclusive growth, productivity and innovation.


A more inclusive approach to enterprise is key to tackling wider social structural barriers such as unequal access to employment opportunities and product markets, and gender and ethnicity pay gaps.


Concerted action is needed to support the growth ambitions of EMBs, particularly in light of damaging consequences of the pandemic for ethnic minority communities.


The report calls for a strong action to eliminate the longstanding challenge of discouragement of ethnic minority entrepreneurs from seeking finance and business support.


It found EMBs have been particularly hit hard by the Covid-19 pandemic due to the sectors in which they tend to operate and recommends recovery support is focussed on the businesses that need it most.


The report also highlights the need for greater accountability of organisations across public, private and third sectors, including business support agencies, finance providers and large purchasing organisations, for their business engagement with EMBs.


Professor Monder Ram, director of the Centre for Research in Ethnic Minority Entrepreneurship at Aston Business School, said:


“This major report sets out an ambitious yet practical agenda to realise the potential of UK’s ethnic minority businesses.


“The entrepreneurial ambition of ethnic minorities can play a crucial role in the UK Government’s vision of ‘Levelling Up’ prosperity across regions, promoting trade opportunities of ‘Global Britain’ and creating a more cohesive society.


“Drawing on the latest research and examples of international best practice, the report presents a comprehensive approach to tackling the barriers faced by firms owned by ethnic minority communities.


“We pinpoint key challenges and present recommendations – informed by extensive consultation with business support practitioners and entrepreneurs – that invite policy-makers, corporations and entrepreneurs to collaborate in a new partnership to advance entrepreneurial activities and the UK’s diverse communities.”


The report calls for central government and local decision makers to develop clear objectives for inclusive entrepreneurship, informed by evidence, and ensure that EMBs can access quality business support that helps them grow.


Dr Eva Kašperová, a research fellow at CREME, said:


“To address the barriers faced by EMBs and help them realise their entrepreneurial potential will require commitment and leadership from the government as well as local business support ecosystem actors.


“The current lack of an explicit UK-wide policy on inclusive entrepreneurship could mean that some parts of the country are left behind in terms of tackling structural inequalities and enabling entrepreneurs from ethnic minority communities and other under-represented or disadvantaged groups to access finance, wider markets and quality business support.


“If past experience is a guide, ensuring commitment from key stakeholders may be the biggest challenge.”


Andrew Harrison, head of Business Banking at NatWest Group, said:


“As the UK’s biggest bank for business, we’re committed to championing small businesses and supporting growth, but we know that there are barriers which disproportionately affect Ethnic Minority Businesses (EMBs).


“This is why we aim for at least 20% of the places on our 13 nationwide accelerator hubs to be for ethnic minority entrepreneurs. In 2021, 26% of businesses in our hubs were EMBs.


“Only close collaboration can deliver meaningful change to ensure EMBs get the support they need to reach their full potential. Now is the time to accelerate action, and at NatWest we commit to playing an integral role in the change that is required.”


The Centre for Research in Ethnic Minority Entrepreneurship (CREME) will share this report, inviting policy-makers, corporations and entrepreneurs to come together in a collaborative and strategic partnership to champion enterprise and advance entrepreneurial activities and the UKs diverse communities, further building an inclusive entrepreneurial eco-system supporting businesses to thrive at a launch event at NatWest Conference Centre in London on 10 May.

Connect with:
Monder Ram

Monder Ram

Director, Centre for Research in Ethnic Minority Entrepreneurship & Professor of Small Business

Professor Ram is an authority on small business & ethnic minority entrepreneurship research & has appeared frequently in the media.

Industrial SociologyMigrant and Refugee EntrepreneurshipSMEs in the West MidlandsEthnic Minority EntrepreneurshipSMEs

You might also like...

Check out some other posts from Aston University

2 min

Aston University researcher takes on leadership role within biomedical engineering

Dr Antonio Fratini is the new chair of the Institute of Mechanical Engineers Biomedical Engineering Division It is one of the largest group of professional biomedical engineers in the UK The specialism merges professional engineering with medical knowledge of the human body, such as artificial limbs and robotic surgery. An Aston University researcher has been given a leading role within the biomedical engineering sector. Dr Antonio Fratini CEng MIMechE has been elected as the new chair of the Biomedical Engineering Division (BmED) of the Institution of Mechanical Engineers (IMechE), one of the largest groups of professional biomedical engineers in the UK. The IMechE has around 115,000 members in 140 countries and has been active since 1847. Biomedical engineering, also known as medical engineering or bioengineering, is the integration of engineering with medical knowledge to help tackle clinical problems and improve healthcare outcomes. Dr Fratini previously served as chair of the Birmingham centre of the division for five years and as vice-chair of the division for one year. His research includes responsible use of AI, 3D segmentation and anatomical modelling to improve surgical training and planning, motor functions and balance rehabilitation. He leads Aston University’s Engineering for Health Research Centre within the College of Engineering and Physical Sciences and has vast experience in the design, development and testing of new medical devices. Currently he is the University’s principal investigator for the West Midlands Health Tech Innovation Accelerator and he has a growing reputation in the UK and internationally within the biomedical engineering profession. He said: “Biomedical engineering is continuously evolving and our graduates will create the future of health tech and med tech for more effective, sustainable, responsible and personalised healthcare. “I am very honoured of this appointment. This three-year post will be a great opportunity to further develop the biomedical engineering profession worldwide and to show Aston University’s commitment to an inclusive, entrepreneurial and transformational impact within the field.” Professor Helen Meese, outgoing chair of the division, said: “I am delighted to see Antonio take on the chair’s position. He has, over the years, contributed significantly to the growth of the Birmingham regional centre and has actively supported me throughout my tenure as chair. I know how passionate he is about our profession and will undoubtedly continue to drive the division forward over the next three years.” Dr Frattini was presented with his new title on 20 June at the IMECHE HQ at 1 Birdcage Walk, London during the Institution’s technology strategy board meeting. For media inquiries in relation to this release, contact Nicola Jones, Press and Communications Manager, on (+44) 7825 342091 or email: n.jones6@aston.ac.uk

3 min

Aston University researcher develops method of making lengthy privacy notices easier to understand

It has been estimated it would take 76 days per year to fully read privacy notices New method makes notices quicker and easier to understand by converting them into machine-readable formats Team designed a JavaScript Object Notation schema which allowed them to validate, annotate, and manipulate documents. An Aston University researcher has suggested a more human-friendly way of reading websites’ long-winded privacy notices. A team led by Dr Vitor Jesus has developed a system of making them quicker and easier to understand by converting them into machine-readable formats. This technique could allow the browser to guide the user through the document with recommendations or highlights of key points. Providing privacy information is one of the key requirements of the UK General Data Protection Regulation (GDPR) and the UK Data protection Act but trawling through them can be a tedious manual process. In 2012, The Atlantic magazine estimated it would take 76 days per year to diligently read privacy notices. Privacy notices let people know what is being done with their data, how it will be kept safe if it’s shared with anyone else and what will happen to it when it’s no longer needed. However, the documents are written in non-computer, often legal language, so in the paper Feasibility of Structured, Machine-Readable Privacy Notices Dr Jesus and his team explored the feasibility of representing privacy notices in a machine-readable format. Dr Jesus said: “The notices are essential to keep the public informed and data controllers accountable, however they inherit a pragmatism that was designed for different contexts such as software licences or to meet the - perhaps not always necessary - verbose completeness of a legal contract. “And there are further challenges concerning updates to notices, another requirement by law, and these are often communicated off-band e.g., by email if a user account exists.” Between August and September 2022, the team examined the privacy notices of 50 of the UK’s most popular websites, from globally organisation such as google.com to UK sites such as john-lewis.com. They covered a number of areas such as online services, news and fashion to be representative. The researchers manually identified the notices’ apparent structure and noted commonly-themed sections, then designed a JavaScript Object Notation (JSON) schema which allowed them to validate, annotate, and manipulate documents. After identifying an overall potential structure, they revisited each notice to convert them into a format that was machine readable but didn’t compromise both legal compliance and the rights of individuals. Although there has been previous work to tackle the same problem, the Aston University team focused primarily on automating the policies rather than data collection and processing. Dr Jesus, who is based at the University’s College of Engineering and Physical Sciences said: “Our research paper offers a novel approach to the long-standing problem of the interface of humans and online privacy notices. “As literature and practice, and even art, for more than a decade have identified, privacy notices are nearly always ignored and ”accepted” with little thought, mostly because it is not practical nor user-friendly to depend on reading a long text simply to access, for example a news website. Nevertheless, privacy notices are a central element in our digital lives, often mandated by law, and with dire, often invisible, consequences.” The paper was published and won best paper at the International Conference on Behavioural and Social Computing, November 2023, now indexed at IEEE Xplore. The team are now examining if AI can be used to further speed up the process by providing recommendations to the user, based on past preferences.

2 min

Aston University optometrists take up global industry association roles

Professor Nicola Logan has been named a global myopia management ambassador by the World Council of Optometry Dr Debarun Dutta is the new academic chair of the British Contact Lens Association Aston University School of Optometry is ranked in the top 10 for research in the Complete University Guide 2024 Professor Nicola Logan and Dr Debarun Dutta from Aston University’s School of Optometry have both been appointed to major roles within optometry industry associations. The School of Optometry is regularly ranked highly by both leading national ranking publications and in annual student-led surveys. This includes a top 10 ranking for research and a top five ranking for graduate prospects in the Complete University Guide 2024, and first in the UK for student/staff ratio in health professions (optometry) in the Guardian University Guide 2024. Professor Logan, professor of optometry and physiological optics and deputy head of the School, has been named a global myopia management ambassador by the World Council of Optometry (WCO). She is one of four new ambassadors named by the WCO in collaboration with CooperVision, a leading myopia management company. WCO and CooperVision have developed a myopia management online tool which reflects WCO’s global standard of myopia care. In March 2024, Professor Logan presented her inaugural lecture at Aston University on her research into the nature of myopia, the growing evidence base on strategies to control eye growth in children and translation of these findings to clinical practice. She said about her appointment as an ambassador: “I am thrilled to be appointed as the global myopia management ambassador for the World Council of Optometry. This role provides me with a valuable platform to advance the recognition of myopia as a significant public health concern and to facilitate the translation of research into effective, evidence-based clinical practice strategies for children with myopia.” Dr Dutta, a lecturer in optometry, has been appointed the new academic chair of the British Contact Lens Association (BCLA). He will lead the BCLA’s academic output, including offering guidance and advice to the BCLA council about scientific and academic elements of contact lenses. Dr Dutta will initially work alongside current academic chair, Professor James Wolffsohn, Aston University’s head of optometry, who is currently on sabbatical from the University, before taking over when Professor Wolffsohn steps down in 2025. Dr Dutta said: “I am hugely excited at the prospect of delivering academic provision of the British Contact Lens Association, with a specific focus on a highly prestigious conference programme as we grow our reputation as a global leader in contact lens and anterior eye education. This is a rare opportunity to work alongside our association members, fellows, trustees, global ambassadors and volunteers inspiring a new era for the BCLA, and to support our growth and development ambitions through delivery of educational activities within the contact lens and anterior eye specialism.”

View all posts