{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"The Cashflow Show: Entrepreneurship Insights for Founders, CEOs and Business Leaders","title":"£75 Billion Opportunity: Professor Monder Ram OBE on Ethnic Minority Entrepreneurship","html":"","width":"100%","height":180,"duration":1611,"description":"Episode Summary :Could the UK economy gain a £75 billion boost by empowering ethnic minority businesses?In this episode of The Cashflow Show, host Clayton M. Coke interviews Professor Monder Ram OBE, Director of CREME at Aston University, about the Time to Change report. Professor Ram reveals how ethnic minority entrepreneurs, twice as entrepreneurial as their white counterparts, face barriers in finance, markets, and support, yet hold untapped potential for growth.Learn how addressing these challenges can drive economic growth and how businesses can support inclusive entrepreneurship.Listen in for actionable insights and visit CREME at Aston University for the full Time to Change report!Key Discussion PointsCREME’s Mission: The Centre for Research in Ethnic Minority Entrepreneurship (CREME) researches and develops solutions for challenges facing UK ethnic minority businesses (00:28–01:26).Entrepreneurial Disparity: Ethnic minority communities are twice as entrepreneurial but face higher business failure rates after 3.5 years compared to white counterparts (01:26–04:22).Economic Potential: Ethnic minority businesses contribute £25 billion to the UK economy, with potential to reach £100 billion if barriers are addressed (03:23–03:52).Time to Change Report: A NatWest-backed study provides 10 evidence-based recommendations to boost growth through better finance, data, and support (07:18–11:11).Finance Barriers: Black and ethnic minority entrepreneurs are twice as likely to be discouraged from seeking finance despite having bankable propositions (04:52–05:50).Support Gaps: Current business support often misaligns with the needs of minority entrepreneurs, who require high-value networks and supply chain access (06:20–07:18).Government Strategy: The Backing Your Business strategy incorporates CREME’s recommendations, emphasizing the everyday economy and inclusive policies (13:08–15:32).NatWest’s Role: NatWest’s 10-year incubator program fosters inclusive support,...","thumbnail_url":"https://img.transistorcdn.com/5TDQUThJM60yAtjdMtHop6E3IULiY5PXxdvmQ0Ytl6Q/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS83ZWMx/YzQ2ZjFmMWEyNTUy/NTMyYWFjZWI2ZWM0/MzIwZC5qcGc.webp","thumbnail_width":300,"thumbnail_height":300}