A survey by the Institute of Asian Professional (“IAP”) found Asians - who make up 4%
of the UK population - accounted for 10% of economic output.” BBC NEWS
Within the North East, where the lowest proportion of the population are of Asian background (1.9%,Welamedage et al 2009) and entrepreneurship as we have seen is low, Asian entrepreneurship is not twice as great as the British White population but
three and half times as great.
The government appointed Ethnic Minority Business Task Force (July 2009) found that Black & Minority Ethnic (BME) groups were not only more entrepreneurial but also had a greater drive to be entrepreneurial. Indeed whilst only 4.4% of the white UK population wanted to set up in business, 12.1% of the UK population of Bangladeshi origin wanted to set up in business.
The Asian economy accounts for approximately £60bn every single year, or thirteen per cent of annual turnover in the capital. The U.K.’s Asian population has an estimated disposal income of £32 billion. Census figures consistently show that Asian people are
statistically more likely to set up their own company than
any other ethnic group!
“The strong links that many Asians continue to have with the subcontinent help UK attract around a third of all Indian FDI projects in Europe”
“Asian wealth increased by 69 per cent between 1998 and 2005, across the UK compared with just 23 per cent on average for the rest of the population”
Asian Business Connexions is the fastest growing Social Enterprise in the North East
providing support and assistance to all communities.