People From BAME Backgrounds Face Glass Ceiling When Applying For Funding

The results of a new survey jointly released by BACKLIGHT, long-running Television channel, Channel Four and Clear Channel found that those business persons emanating from black and minority ethnic backgrounds appeared to be subject to higher hurdles when generating financial income for their businesses. Many such persons were living under the perception that they have to put in far more effort when seeking to persuade parties they were seeking financial investment from. This was in stark contrast to those business owners who occupy the white demographic.

Our Survey Said…
The results of the survey released by the organisers from the three corporations made the following observations, including but not limited to:

  • Those from black and minority ethnic backgrounds and aspiring to be business leaders seem to be up against higher hurdles when putting in applications for finance. They also were living under the perception that they had an uphill struggle to persuade providers to have any faith in their commercial vision for their organisation. This perceptively appears to be in comparison to those entrepreneurial persons from the white demographic.    
  • in excess of seventy percent of those from minority and ethnic backgrounds commented that they had long-held ambition to run their own organisation. This was in contrast to just over fifty percent of those who possess this deep-seated desire within them who emanate from the white demographic
  • over sixty percent of persons from the black and minority ethnic demographic reported that they had commenced their commercial journey prior to attaining the age of thirty years of age and
  • approximately just shy of thirteen percent of business owners from black and minority ethnic backgrounds disclosed that they had began their organisation whilst in their teens. Putting this statistic into some form of context, this on the evidence gathered by the investigators who were carrying out the survey they found that just over seven percent of persons occupying the white demographic
  • proprietors of commercial organisations who emanate from the black and minority ethnic background and demographic appear to face hurdles when putting in formal requests for financial liquidity        
  • in this regard, they seem to be of the perception that they have to work harder, put more effort in and do more to persuade financial providers to have confidence in their business vision and 
  • this was in comparison with commercial proprietors from the white demographic. 

This was not the end of the matter as far as the survey organisers went. It examined the evidence collected from approximately five hundred business persons and in particular the availability of financial liquidity to commercial organisations. When it carried out a deep-dive into the numbers those who provided answers to the survey communicated that just shy of sixty percent of commercial entity proprietors seemed to be in receipt of financial liquidity from credit providers. However, this was on the condition that they had at the time of the application process developed into an established commercial organisation. This on its own may seem like nothing to see here, but it raised a few eyebrows to say the least when the survey organisers made a comparison between this demographic and those from white backgrounds. In this regard, just over thirty-five percent of the latter group faced the requirement to be an established commercial organisation. 
In addition, on the evidence in excess of fifty percent of those from the BAME demographic seemingly faced a glass ceiling when applying for liquidity. This compared to forty percent of those from the white demographic.  
ASSESSING FIRMS
#Allen&Overy #BakerMcKenzie #HerbertSmithFreehillsLLP #LewisSilkin #MishcondeReya #Simmons&Simmons #AddleshawGoddard #CliffordChanceLLP #CMS #DACBeachcroftLLP #EvershedsSutherlandLLP #LinklatersLLP #TaylorWessing #TraversSmith #Bird&Bird #thelegists

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