Image by LinkedIn Sales Navigator

Impact of Covid-19 on Black and Ethnic Minority-led businesses

Survey Results Report
May 2020

The Covid-19 crisis has had a devastating impact not only on people’s lives but also on many parts of the UK economy. As the government has raced to deliver life support to businesses, the needs of one group of business owners have largely been overlooked: diverse founders and Black and ethnic minority entrepreneurs. Covid-19 is already having a disproportionate impact on ethnic minorities, who are over-represented in the death toll. While there is ongoing research into the reasons for this health discrepancy, we also need a better understanding of the implications of the pandemic for minority-led businesses.


Extend Ventures and Your Startup Your Story (YSYS), in collaboration with the community organisations CGV, 10x10, Kwanda, BYP, Colorintech and BGV, surveyed Black and ethnic minority founders to understand how they are surviving in this economic climate and whether the current government support meets their needs.

 

Impact of Covid-19 on Black and Ethnic Minority-led businesses May 2020

Respondents to this survey shared details about the stages of their companies, estimated runway, their eligibility for government support, where they need the most help right now, and more.

 

©2020 Extend Ventures