Policy paper

Ethnic minority businesses and access to finance

This publication was published under the 2010 to 2015 Conservative and Liberal Democrat coalition government

This report outlines the actions that the British Bankers’ Association have committed to so ethnic minority businesses can access finance, and lists future actions.

Document

Detail

Deputy Prime Minister Nick Clegg delivered the Scarman lecture on 24 November 2011. His speech, Economic opportunity is the next frontier for race equality acknowledged the progress that had been made towards racial equality in this country, but also highlighted some of the challenges that remain for ethnic minority communities.

The Deputy Prime Minister talked about the difficulties that ethnic minority businesses and would-be entrepreneurs were reporting in accessing business loans and asked Andrew Stunell, the then Communities Minister, to work with interested parties to review the barriers preventing ethnic minority businesses and would-be entrepreneurs from accessing loans, and whether the banks were doing enough to address these problems.

This report summarises that review, outlines the actions that the British Bankers’ Association have committed to, and lists a number of actions for the future.