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of entrepreneurs from ethnic minority backgrounds who received money
from the government’s Start Up Loan scheme have helped create 32,000 new
initiative, launched in 2012, provides financial support and mentoring
to entrepreneurs looking to set up their own business.
to the Start up Loans company, over 6,300 of the loans were given to
people from black, Asian and ethnic minority communities. The value of
their businesses is worth over £34.8 million.
300 entrepreneurs from a Pakistani background took out a loan, while
those from an Indian background took out 271 loans. Those from
Bangladeshi backgrounds took out 141. Last week, the start-up loans
company provided its 25,000th loan, making the total amount of money
lent to new firms nearly £130m.
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