Ethnic minority banking
Every year Britain is becoming more and more ethnically diverse.
The ethnic minority population in Britain grew by 53% between 1991
and 2001 verses 3% for the entire population and now represents 4.3
million people. Ethnic Minority Businesses (EMBs) are also making
an increasingly important contribution to Britain's economy. This
guide tells you more about Ethnic Minority Banking and where to go
for more information and support services:
- EMB growth
- Where to go for guidance & support
EMB growth
There are an estimated 300,000 EMBs in Britain. This stock has
grown by 38% between 2005 and 2007 verses a total of 4% in total
SME (Small, Medium Enterprises) stock during the same period. To
put this into context, EMBs represent c.7% of total SME stock this
compares in size to the Manufacturing sector.
Want to know more about this sector? Then check out the
Governments proposals on supporting EMBs
Use the NatWest Small Business Monitor to see what customers think
about this emerging sector
Where to go for guidance & support
Knowing where to look for information is only half the battle!
Transforming it into tangible activity to help you grow your
business can sometimes be less clear. Despair not; help is at hand
through a series of local agencies dedicated to supporting small
businesses. In addition to this, NatWest have relationship managers
who work closely with these bodies/agencies to further help and
support EMB communities/entrepreneurs achieve their business
goals.
The British and local Chambers of Commerce, The Asian Business
Development Network, HAFTA and the Hindu Mission are just some of
the agencies in operation
NatWest helped Mohammed Farid and Mohammed Khan (Asian Businessmen
of the Year) for the past 3 years and local manager Stuart
Bannister has worked closely with the partnership helping them grow
their business into what it is today. Recently Stuart helped them
secure the Small Heath Building Centre, funding the renovation
which also allowed the partnership to secure the jobs of the
existing workforce. Feedback from the customer indicates what value
they place on the relationship they have with Stuart and NatWest."
I can honestly say hand on heart, without God, Stuart Bannister and
NatWest Bank we would not be where we are today with a very
successful business. Many thanks to Stuart and the team at
NatWest".
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