Written by Nishma Robb
Athird of us come from working class backgrounds, but only 10% break into what’s considered elite careers1. When we talk about equality in the U.K., we need to talk about income equality.
I’ve seen a lot of change for good during my 25 years in advertising and media. But as a woman of colour from a working class background, I understand that while representation matters, equity matters most.
I took to the virtual stage at this year’s Advertising Week Europe with pioneer of Grime, member of So Solid Crew, and founder of Black Pound Day, Swiss, and serial entrepreneur, business mentor and best selling author, Bianca Miller-Cole.
We talked about the reality of economic inequality in the U.K., how we can empower Black-owned businesses, and how the advertising industry can be instrumental in bringing about racial equality. Here’s a recap of the session.
The realities of being a Black business
We’re in the middle of a pandemic and the worst recession on record. Not many entrepreneurs would be brave enough to start a business in 2020. But barriers to Black business are a reality every year.
Black-owned businesses are more likely to be rejected for an overdraft and charged higher interest rates than their white-owned counterparts.2 And 73% of Black-owned businesses had a higher than average risk rating, compared with 47% of SMEs as a whole.3
Read the full article on Think With Google UK.