Briteyellow's entrepreneurial chief executive has called for finance companies to be open and transparent about their funding decisions to help release the potential of BAME businesses in the UK.
Fredi Nonyelu spoke out in support of the findings of a report on Entrepreneurship and Diversity in the UK. Fredi's contributions to a debate is published here: Biztech’s Chairman Challenges Private Finance Companies to Help Release the Potential of BAME Businesses - Biztech Business and Technology Forum
The report, published last year by British Business Bank, found that BAME entrepreneurs get less good outcomes than their white counterparts.
Fredi, who chairs the Biztech technology forum in Milton Keynes, has been an entrepreneur for more than 20 years and spoke of his experiences at a Barclays Eagle Labs fireside chat in February.
“My challenge to private funders is for them to bring transparency and openness to their decisions – to actually measure themselves,” said Fredi. “Data does not lie. Once they have the data to measure their decisions against, it will improve.
“My goal is to get to equity. There must be equity all around, to get a fair playing field and the winner is the UK economy. Let’s get on and do that.”