“Red Alert: Black Creators are in need”.

There is currently a crisis in the U.K. Black IT entrepreneurs believe they have to rely on foreign investors to get their enterprises off the ground.

More than a year after the Black Lives Matter rallies spurred the UK government to examine prejudice against Black business owners, British venture capital firms continue to disregard Black and ethnic minority founders despite a burgeoning startup environment.

“It’s evident that the United Kingdom is not the place to try to secure investment for your startup,” says Rich Serunjogi, creator of Business Score, which connects e-commerce businesses with working capital financing. “Only the best [UK] venture capitalists are interested.” Second-tier funds frequently overlook Black founders, citing reasons such as the company’s market size being insufficient or the idea being too risky.

Originally covered by: https://www.cnn.com/2021/12/16/tech/black-entrepreneurs-uk-racism/index.html

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