Breaking Financial Barriers

Starting a business or ensuring a small business continues to operate successfully often requires taking out business loans, but are there systemic barriers to ethnic minority business owners in obtaining a loan? Focusing specifically on Scotland, the author draws on original research, including in-depth interviews and thematic analysis, the book highlights the systemic barriers such as education, language proficiency, interest rates, trust issues, and residency requirements that hinder access to finance. The research also examines institutional factors like credit ratings, information asymmetry, and strict loan processes that disproportionately affect ethnic minority entrepreneurs.

The book offers readers a comprehensive overview of the difficulties faced by this demographic but also offers practical recommendations for policymakers, financial institutions, and community organizations to foster a more inclusive lending environment. In addressing both the micro-level challenges and macro-level systemic issues, this text aims to contribute to the broader discourse on financial inclusion, economic equity, and the role of small businesses in sustainable development.

The International Studies in Small Business and Entrepreneurship Research Series opens a new chapter, as it seeks to advance discussions that consolidate conventional knowledge. The purpose of this initiative is to invite new reflections on the nature of entrepreneurship and small business across contexts. The collections in this series aim to improve the theoretical rigour and practical relevance of the field. The emphasis is to advance contemporary contributions that matter for small business and entrepreneurship, by directing us to underexplored and under-theorised contexts.

Udeme Jonah is a Lecturer at the University of Lancashire, UK. He has a Bachelor of Science in Accountancy, a Master of Science in Finance and Accounting and a Doctor of Business Administration in Finance. His areas of expertise include Accounting and Finance, Financial Management, Information System and the Business Environment, Business and Management, Professional and professional Skills, Research Methods, Professional Ethics and Business Law.