'WE MUST DO MORE FOR DISADVANTAGED GROUP'
Business organisations across the city and county need to do more to help entreprenuers from one of the most disadvantaged communities in Leicestershire.Research by De Montfort University has found a lack of financial and business support is stifling the Leicestershire Somali community.
The Centre for Research in Ethnic Minority Entrepreneurship (Creme), which carried out the year-long research, said that given the support the Somali community could unveil a fresh wave of entrepreneurs and help them thrive.
Creme director Prof Monder Ram called for business support organisations across Leicestershire to do more to understand the community and help to tap into their potential.
He said: "There is a number of reasons why we carried out the study but it was mainly to try and understand this community.
"There is very little research into it, yet it remains one of the most interesting and rapidly growing.
"Clearly access to finance is one of the biggest barriers they face becuase of language barriers and not knowing where to go.
"However, there is also a clear lack of support for them and they don't know who to turn to help. They also have trouble in accessing new markets.
"Our research has found they have a tremendous skill set and given the resources can contribute a lot to the economy
"Business support organisations need to have a look at this and include it into their policy."
Currently it is estimated that the number of Somali-owned businesses is heading towards 100 - concentrated mostly in the St Matthews and Highfields areas of the city.
Most of these are in retail, with convenience shops, internet shops, travel agents and a few restaurants.
Somali entrepreneur Mohammed Hashi, who owns two furniture stores in Highfields and the city centre, agreed with the findings.
He said: "A lack of business support and finance has been a problem for a long time now for a lot of people in the community.
"We had support from Leicestershire Asian Business Association a little while ago which helped but that has now gone.
"Definitely more needs to be done because there is a lot the Somali community can offer and this will encourage even more people to start businesses."
The research said increased support could include business intermediaries providing links to advice and formal apprenticeship schemes and credit institutions making finance more accessible.
Max Boden, policy manager at Leicestershire Chamber of Commerce, said the Somali community should use organisations such as Business Link.
The study also found Somali females faced challenges related to accessing finance and making time for business venturing.
Creme surveyed 50 small Somali firms operating in sectors such as retail, restaurants and telecommunications. All had been trading for less than three years.