Member Article

Support The UK's 'Lost' Entrepreneurs Says Reuben Singh

More needs to be done to encourage start-ups from ‘missing’ parts of UK society says business leader Reuben Singh, who has launched a new scholarship fund for young entrepreneurs.

Research highlights how a number of UK cities, women and people from black and minority ethnic communities are severely under represented in the growing number of UK start-ups.

While the number of UK businesses has risen dramatically to 3.5 million since 2012, with over 713,000* more registered businesses by August 2015, the economic benefits of this increase are not shared evenly over all sections of society.

The UK has one of the highest gender gaps in Europe, with women 6.3 times less likely to be involved in a new business venture**. Similarly people from black and minority ethnic backgrounds make up 8% of start-ups despite representing 14% of the UK population***.

Similar gaps can be found when looking at the regional picture. Cities and towns such as Belfast, Sunderland, Barnsley and Mansfield have the lowest start up rates per 10,000 population in the UK, with less than half the levels seen in more entrepreneurial areas such as Milton Keynes, Brighton or Reading****.

Reuben Singh, entrepreneur and CEO of the UK’s most trusted call answering service, alldayPA, said: “Entrepreneurial activity generates wealth, jobs and local investment. Ensuring this activity is more evenly spread in society is key to a fairer distribution of wealth and opportunity.

“More needs to be done to encourage start-ups amongst lost sections of our communities and businesses should take a lead in mentoring or offering financial support to help narrow these gaps.”

The Reuben Singh Scholarship is aimed at helping young entrepreneurs wishing to continue their education to support their business ventures.

“A key reason for ‘lost’ entrepreneurs is the lack of financial backing when getting started - especially at the stage when gaining the skills to not only start a business, but enabling it to thrive. I was lucky enough to get that support from my family. This scholarship is designed to help those who have entrepreneurial flair, but don’t have the back-up required to give them that positive start.”

For more information about the Reuben Singh Scholarship and to download an application form, please visit http://www.ReubenSingh.com/Scholarship

This was posted in Bdaily's Members' News section by Gemma Eccleston .