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Reimagining Finance for Black-owned businesses

June 2nd, 2021
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Black Business Matters is a response to the racial disparities brought into sharp focus by the disproportionate impact of Covid-19 on the Black and minoritised communities. The murder of George Floyd amplified a broad-based demand for racial equity. In response, The Ubele Initiative convened a working group of Black and minority ethnic business leaders and senior professionals, to address the challenges facing Black-owned businesses already suffering from pre-existing inequities, including (but not limited to) capital shortages and reduced access to credit. This despite Black and minoritised businesses contributing around £30bn to the economy, and being at the forefront of innovation and being at the heart of diverse communities across the UK. 

Black Business Matters - in partnership with HSBC and powered by The Ubele Initiative, Extend VenturesLendoeBlack South-West Network and All Inclusive - is a community-led initiative to support Britain’s Black business community. Our mission is to help improve the commercial landscape for Black businesses.  

Small businesses contribute over 50% of private sector turnover and 60% of all private sector jobs in the UK. Black-owned businesses are at the heart of their communities and essential to the economic health and wealth of Britain and thousands of local communities. Yet there is very little data on the Black business community and what we need to thrive. 

We are connecting with businesses around the country owned and led by Black African and Caribbean heritage individuals. We want to understand what support they need, particularly from their bank, to secure their success. 

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Your business matters! - Take our survey

It is time your voice is heard so that we can improve the business banking experience for Black-led Businesses. What would your ideal business bank do for you? Click here to have your say by taking part in our survey.  
The aim of this survey is to understand your current business banking experience so that we can work with HSBC and other partners to innovate and deliver the banking products, services and support that you need.  

Closes 18 June 

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