A new report by the Institute of Directors and Brazilian-born entrepreneur Rafael dos Santos has revealed the challenges faced by migrant entrepreneurs and the extraordinary benefit they bring to the UK’s economy.
Russian-born entrepreneur and mother from Croydon Yuliana Topazly features as one of the inspirational migrant entrepreneurs who contributed to the report unveiled at the Houses of Parliament.
Yuliana experienced the struggles mothers have balancing career progression without compromising their children. Through this she developed two businesses to help overcome the issues faced by parents: MyOutSpace, a unique family-friendly business centre and co-working space in Croydon, and BuddyWith, an online peer-to-peer support platform that helps parents experiencing specific issues to connect and gain access to local supportive organisations. Yuliana was listed in the Sunday Times as one of the ‘Top 100 Most Inspiring Entrepreneurs in the UK’ in 2016.
Yuliana said, “As with many migrant entrepreneurs, my biggest challenge in establishing a business came with finding finance and building a network. My application for a bank loan was rejected, I couldn’t win any funding competitions as my idea was untested, and finding commercial property was difficult.
“I managed to persuade my friends and family to invest £10,000 into the business. I learned through the process about the power of networking as it helped me gain further finance, meet potential clients, access various resources and, most importantly, it helped to establish me as an expert in the field.”
Report author Rafael dos Santos said, “Yuliana demonstrates two of the biggest challenges faced by migrant entrepreneurs. She had no access to funding and a limited network. Migrant entrepreneurs have created 1.16 million jobs in the UK, we have brought far more to the country than people expect and it is still difficult for entrepreneurs from overseas to access finance. There are almost half a million migrant entrepreneurs in the UK and it would be crazy not to help them to create new jobs and expand the economy.
“Creating co-working spaces and training initiatives to help migrant entrepreneurs will encourage people to grow their networks and create new business to benefit everyone.”
The report is launched to coincide with the opening of London’s first co-working space dedicated to supporting migrant entrepreneurs. Located in Aldgate East, Whitechapel, the hub provides affordable serviced office space to help people grow and nurture their businesses.
mi-HUB’s competitively priced serviced office also offers training through the Migrant Business Accelerator programme. The six-month course led by Rafael dos Santos focuses on helping participants to structure their business to access finance, one of the biggest barriers for migrant entrepreneurs.
The full report is available to view and download from the mi-HUB website and IOD website.
Institute of Directors: https://www.iod.com/
Rafael dos Santos: http://www.rafaeldossantos.com/
Migrant Entrepreneurship Report: http://www.mi-hub.com/migrant-entrepreneurship-report-2016/
Migrant Entrepreneurship Report by the Institute of Directors:https://www.iod.com/Portals/0/PDFs/Campaigns%20and%20Reports…