Supporting women of colour in business

Building a business is something that everyone should have the freedom to do. But we know that some communities have more obstacles to overcome than others. This can stop some from achieving their business dreams.

Banks need to do more to engage with women of colour in business

In 2020, we carried out research into the barriers faced by women of colour in business. Our findings told us that:

- ethnicity is a greater challenge than gender when growing a business

- there's a lack of trust in banks, even when needing finance

- banks are often ignored for non-financial support

- founders are more likely to approach their community for funding than a bank.

I am very excited to have launched this research in partnership with Santander.

We began this journey two years ago to gain an insight into the challenges and opportunities that women of colour face when starting or growing a business in the UK. It's an area that has scant research and I am delighted to share the insights we uncovered. 

I believe women of colour in business are a rich, diverse, yet largely untapped and in some ways invisible sector of British business. 

It’s time to shake off this cloak of invisibility, and time to co-create and collaborate to provide the tools and services that will enable these entrepreneurs to thrive.

Foluke Akinlose Founder of PRECIOUS

What help is available?

To address the findings, we've created a series of financial readiness resources. These cover the main topics of our research. 

Find out more about the support available