More than 11,000 black, Asian and ethnic minority entrepreneurs have received government-backed Start Up Loans since 2012

More than 11,000 black, Asian and ethnic minority (BAME) entrepreneurs have received government-backed Start Up Loans since 2012 according to research published today.

Start Up Loans were introduced to tackle inequality in society by ensuring that people from all backgrounds can access the money they need to start a business.

Since the scheme began in 2012, more than 55,000 businesses have been supported – equivalent to around 25 every day. More than £400 million of finance has been provided and helped create more than 66,000 jobs. 1 in 5 of the loans have gone to BAME recipients.

The findings underpin the value which BAME citizens add to the UK’s economy. They also highlight how the government is working to create a strong entrepreneurial business environment and a fairer society.