The Lending Standards Board (LSB) is developing a first-of-its-kind inclusive Code to drive essential improvements in access to finance for Ethnic Minority-Led Businesses (EMBs). The Code’s development follows the publication of the LSB’s 2023 report on the barriers to finance faced by EMBs, which also underscored the crucial role that financial institutions can play in unlocking these businesses’ untapped potential. As highlighted by the LSB’s 2023 report, ethnic minority entrepreneurs, including those from Black, Asian, and other minority groups, contribute an estimated £25 billion to the UK economy annually. Despite…
Read MoreLSB to Develop a First-of-its-Kind Code to Break Down Barriers to Finance for Ethnic Minority-Led Businesses
