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Business leaders attend inaugural event of UEL’s Black Business Observatory

Wednesday 6 February 2008

Business leaders gathered at the University of East London (UEL) Docklands campus on Wednesday 30 January to debate strategy for an innovative project aimed at invigorating and inspiring black-owned enterprise in London.

Over 30 CEOs and key figures from a wide range of sectors, including higher education, non-governmental organisations, business support providers and established black businesses, attended the inaugural event of UEL’s Black Business Observatory.

Funded by the London Development Agency, the Black Business Observatory aims to coordinate information, research and market intelligence to help secure the growth and sustainability of black businesses in the capital.

The project is being led by a consortium of five London-based universities under the direction of Professor Sonny Nwankwo, Director of Research and Enterprise at UEL’s Business School, and Dr Nnamdi Madichie, Senior Lecturer in Marketing.

Professor Nwankwo said: “Equality of opportunity is a stated aim of many businesses in Britain today, yet attempts to redress inequalities invariably fall short of targets and radical measures still often meet strong opposition. Under-represented groups also often lack the experience, contacts or technical know-how to confidently start out by themselves.

“What the Black Business Observatory aims to achieve is long-term and robust research into black business support needs, identifying gaps in support provision and highlighting areas of implementation that can enhance the growth and sustainability of black-owned business in London.“

The Black Business Observatory will develop a coordinated research portal and serve as a knowledge hub for collating, processing and disseminating information and market intelligence relating to the dynamics of black enterprise in London. The Observatory will also hold a live database of business support providers operating in the black business sector, as well as a complete directory of black-owned businesses across the capital.

Key speakers at the inaugural event included Dr Effiong Apkan, CEO of the London Business Development Agency, Dr Jo Ukemenam, CEO of Reform Corporation, Abi Ade-Makanju, Project Development Manager at the London Development Agency, and Dr Ken Ife, CEO of The Technology Centre and a Visiting Fellow at UEL’s Business School.

Dr Nnamdi Madichie, Project Manager for the Black Business Observatory, said: "This seminar was a very successful event that brought together key stakeholders to discuss the challenges of black enterprise in London and its implications for international entrepreneurship in the 21st Century."

UEL's Business School, based in its new home on the waterfront of the Royal Albert Dock, offers a wide range of high-quality undergraduate and postgraduate programmes, including accounting and finance, economics, marketing, public services, and events, project, tourism and human resource management.For further information, visit www.uel.ac.uk/business or call Carole Flanagan on 020 8223 3356.

For details and pictures contact Daniel Cherry: 020 8223 2194

Notes to Editors

The University of East London (UEL) is a global learning community with over 28,000 students from over 120 countries world-wide. Our vision is to achieve recognition, both nationally and internationally, as a successful and inclusive regional university proud of its diversity, committed to new modes of learning which focus on students and enhance their employability, and renowned for our contribution to social, cultural and economic development, especially through our research and scholarship. We have a strong track-record in widening participation and working with industry.

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