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New focus on the needs of Londonsethnic minority business women

9 Feb 2005

Mayor Ken Livingstones London

Development Agency todayannounced two unique projects tohelp the female innovators andinventors turn their ideas intosuccessful products and support thefemale-dominated ethnic beautysector in London.

Their launch follows research in theLDAs Economic DevelopmentStrategy, published last month, showed that only 20% of London businesseswere owned by women whereas 72% of them were owned by men.However the research also showed the strength of black femaleentrepreneurs, reporting that 29% of black business owners in London were

women. This compares 21% of white businesses being owned by womenand 15% of Asian businesses having women owners

One new project, which is thought to be the first of its kind in the country, willhelp women inventors and innovators develop their business ideas andskills through workshops on subjects such as successful exporting andprotecting intellectual property. It is also organizing networking events andproviding better business information and details on new commercialopportunities to women on the project.

A second scheme aims to develop the ethnic minority hair and beauty sector in London, which is dominated by female entrepreneurs. The project aims toencourage ethnic salon owners and other beauty firms to collaboratecollaborate more to get better bulk deals from suppliers, use technology to

market their business better and improve customer service. It will alsoprovide firms with free advice on sources of finance, retaining staff andmaximizing profits.

The new projects will each receive 100,000 over two years.

Manny Lewis, Chief Executive of the LDA, said: "While some ethnic minoritybusinesses have been amongst the most enterprising and innovative in thecapital, some have been more successful than others at exploiting their skills and products in the marketplace. This is great news for Londonsethnic minority business women which will help unlock their untapped talent.In doing so, the schemes will benefit both the individual women on theschemes and Londons economy as a whole.

Leading businesswoman, Simi Belo, will also be speaking at the launchevent. Her company, Immiis, has designed 'NewHair', an award-winninghair product which is used by many professional women in the UK andabroad. It has been on sale in Selfridges since February 2004.

Speaking ahead of the launch, Ms Belo said: There are more professionalwomen from ethnic backgrounds than ever before in Britain and across theworld. Their extra spending power means there are lucrative businessopportunities that women innovators and inventors are well-placed toexploit. However they need a range of support and advice to help developthese ideas and bring them to market. The new projects being launchedtoday are a major step forward in helping the ethnic minority businesscommunity to fulfill its potential.

To attend the event or for general media enquiries, contact the LDA PressOffice:

Vincent Burke on 020 7954 4682/07976 081 041

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Greg Rosen on 020 7954 4550/07881 552874

Notes to EditorsThe event, called Inspiring Innovation Through Diversity will be held at theCommonwealth Club, Northumberland Avenue, central London starting at6.30pm. The media is welcome to attend.

The London Development Agency is the Mayor's agency for business andobs. The LDA prepares the Mayor's business plan for London and mobilisesthe support and resources of hundreds of partner organisations to help builda thriving economy for London's people, businesses and communities. TheLDA is dedicated to improving sustainability, health and equality of opportunity for Londoners.