The LSB has developed a Code aimed at improving access to financial services for ethnic minority-led businesses following research that shows a disproportionate amount of these businesses face difficulties getting financial products and services compared to white British-led SMEs. The Code, which will launch soon, will require signatories to commit:
- to reducing barriers and improving accessibility to products and services for ethnic minority-led businesses;
- to raising awareness of the needs of such businesses and to take measures to make sure products and services work well for all customers; and
- to share best practice.
The Code has the support of an All Party Parliamentary Group for Ethnic Minority Business Owners.