In 2020, we witnessed an explosion of new businesses birthed out of the pandemic. This surge of resilience, creativity, and entrepreneurial spirit inspired the creation of B.O.M.B. (Black-Owned Minority Businesses). The Federation of Small Businesses (FSB) also noticed significant growth in B.O.M.B.s and produced a report titled "Unlocking Opportunity" by Diana Crouch.  The report, available here: https://www.fsb.org.uk/resource-report/unlock.html The report highlights the highs, lows, and challenges faced by Black-owned minority businesses in the UK. Some of the key findings include: Advantages:•B.O.M.B’S contribute to 25 billion to the economy every year •B.O.M.B.’s are more likely to exportDisadvantages: •B.O.M.B’s are more likely to be self employed and have either one or no employees•Lack of access to finance and networksInitially, the B.O.M.B. began by interviewing business owners online, but it quickly grew into a new feature on Radio Cardiff, a community broadcasting platform.  The B.O.M.B is a weekly show is dedicated to amplifying and promoting Black-owned minority businesses in Wales. This platform is an excellent way to showcase their contributions to the Welsh economy, shine a spotlight on them for local banks and business support organizations to offer support, and inspire entrepreneurs to start something new.

 

Tune into the B.O.M.B every Friday from 9-11am here is the link: The impact of B.O.M.B’s​The influence of black-owned businesses in Wales extends beyond their economic contributions. These enterprises play a vital role in promoting cultural diversity, creating job opportunities, and fostering community engagement. They also serve as powerful examples of resilience and innovation, inspiring future generations of entrepreneurs.​Supporting Black-Owned Businesses ​Supporting black-owned businesses is essential for fostering an inclusive and equitable economy. Here are some ways you can show your support:Shop Local: Choose to buy from black-owned businesses in your area.Spread the Word: Share your positive experiences on social media and leave reviews.Attend Events: Participate in events and workshops hosted by black-owned businesses.Advocate: Encourage local authorities and organisations to support minority entrepreneurs through policies and initiatives.