THE CONTRIBUTIONS of its ethnic business community to the Milton Keynes economy are to be quantified in a ground-breaking new report.
Milton Keynes Ethnic Business Community has joined forces with city-based consultancy group Whitecap Consulting to launch the Milton Keynes Ethnic Business Impact Report.
The analysis aims to clarify and quantify the influence of the ethnic business community on the Milton Keynes economy. Whitecap will carry out extensive research to estimate the economic contributions and implement a broader analysis using company information, innovation insights and interviews with ethnic business leaders.
MKEBC is a business networking group working to raise visibility, connect and provide a platform for ethnically diverse business owners and professionals. It holds quarterly networking events and has a membership base of around 370.
Co-founder Ranjit Singh, who is also philanthropy director at Milton Keynes Community Foundation, said: “In a world where data is king, it is important now more than ever to research and present this report to Milton Keynes. We do not know how much we contribute to the wider economy of MK and this report will not only give us the facts but will also drive further discussion and projects to develop the economy.”
Around 38% of the Milton Keynes population come from an ethnically diverse group but there is little data on the contributions that ethnically diverse businesses make to the local economy.
Whitecap Consulting director Lal Tawney said: “We are very excited about working with MKEBC on this landmark project. For the first time, we’ll have a clear picture of the immense value ethnic businesses bring to our economy. But this report will not be just about numbers – it is about celebrating the stories of the individuals behind these businesses, the hard work they put in, and the positive impact they have on our city.”
The project will create a comprehensive report with recommendations that will play a pivotal role in shedding light on the barriers ethnic businesses face and offer strategies to foster a more inclusive, supportive business environment.
Milton Keynes organisations are invited to be a part of the initiative. MKEBC is looking for businesses to financially sponsor the project. For more details, email info@mkebc.co.uk or visit www.mkebc.co.uk.
Mr Singh said: “MK is proudly an ethnically diverse city and we all play a part in its growth and we would like to know how much of that is due to ethnic communities. I look forward to working with the sector to realise this ambition and the vision of making MK the most inclusive city in the UK to do business.”
Mr Tawney (pictured left) added: “The findings will provide valuable insights for policymakers, businesses and the wider community, including the future plans for MKEBC, and promises to be a powerful catalyst for fostering a more inclusive and prosperous Milton Keynes for all.”
