11 Mar 2022
The news comes as we continue to lead the way for diversity and inclusion in recruitment. We’re on a mission to promote equality, cultivating a culture that’s representative of society as a whole.
Minority Supplier Development UK is a non profit organisation working with a network of over 3000 ethnic minority businesses spanning across over 40 different sectors. Working with over 125 global brands, the organisation is committed to creating a future that prioritises diversity and inclusion.
MSDUK provides a platform for ethnic minority businesses to share innovative ideas, giving ethnic minority founders access to the knowledge and investment that helps them grow and succeed.
With an aim to inspire future generations of ethnic minority entrepreneurs, MSDUK recognises the importance of diversity to the success of a business. When a business puts the spotlight on diversity, it can become more competitive and profitable.
Ultimately, under-representation of ethnic minority businesses is bad news across all sectors, leading to a decline in growth. That’s an issue that MSDUK is constantly working to address.
EMBs contribute significantly to the UK economy. It’s estimated that EMBs generate between £25 billion and £27 billion in Gross Value Added (GVA) every year. Employing more than three million people across the UK, EMBs also pay almost £5 billion in corporation taxes every year.
But there’s still a huge amount of untapped potential and MSDUK works consistently to help break down the barriers faced by EMBs.
Increasingly, evidence suggests more businesses from ethnic minority backgrounds could succeed further.The main issue being EMBs are held back by a number of problems that stifles them from reaching their full potential. Some of these include:
Last year a report found that the UK economy is weaker due to a lack of support for ethnic minority businesses. Increased support for EMBs would create a fairer society and help boost local and national economies and this highlights the importance of the work being done by MSDUK.
MSDUK is working to develop future ethnic minority business leaders and helping existing businesses to grow with access to markets and knowledge. Working with corporates, policymakers, universities and investors, MSDUK is bridging the gap between EMBs and opportunities.
Ethnic minority adults are achieving great success in higher education. Worryingly, this doesn’t translate to equal rates of success in the wider labour market. Given this educational success, you’d expect to see the number of ethnic minorities in managerial and senior roles increase.
Hard earned qualifications should result in success in the labour market and some difficult questions need to be answered and policies need to be put in place to ensure there’s a level playing field. Progress has been made but there’s still a long way to go.
There’s no one quick fix for this. A robust and varied approach is required and should include:
At Consulting Professionals, we put diversity and inclusion at the heart of everything we do. As an ethnic minority business, it’s important to us that we put fairness first.
Equality, diversity and inclusion are all key parts of how we do business. Not only do we take this approach when it comes to our own hiring, but we educate our clients on the importance of building a diverse workforce.
If we were all the same the world would be a pretty boring place. From the onboarding process, through to the ethos of our leadership, we work hard to celebrate uniqueness. We encourage people to bring their true selves to work and we strive to create an environment where everyone feels comfortable.
It’s our firm belief that our focus on diversity and inclusion provides us with the ability to grow and thrive as a business. Every day, we work to help our clients achieve their goals with equality and fairness at the forefront of their recruitment.
Rome wasn’t built in a day and we recognise that to make real, lasting changes we’ll need to continually evolve. Our own learning about diversity doesn’t stop and we’re always looking for new ways to strengthen our ability to lead the way for inclusion in recruitment.
Our accreditation with MSDUK is another string we’re adding to our bow to help us achieve our goals for a fair future for all. We’re proud to be a part of the MSDUK network.
If you want to work with a business that’s passionate about equality, creating a culture that represents wider society, contact us today.