LSB to develop code on access to finance for ethnic minority-led business

The LSB is developing a first-of-its-kind code to break down barriers to finance for ethnic minority-led businesses (EMB).

As the LSB’s 2023 report highlighted, ethnic minority entrepreneurs contribute an estimated £25 billion to the UK economy annually, but EMBs tend to face barriers to financial support, including a lack of understanding of religious or cultural differences by financial institutions.

The new code is expected in early 2025.