Unlocking £100bn potential: How CREME and BGWM are backing diverse businesses

Business Growth West Midlands (BGWM), part of the West Midlands Combined Authority (WMCA), is taking action to address the barriers faced by ethnic minority-led businesses (EMBs) - and seize the £100bn economic opportunity identified in Aston University’s Time to Change report.

The report, produced by the Centre for Research into Ethnic Minority Entrepreneurship (CRÈME), set out a series of recommendations to unlock growth potential among EMBs. In October, the Mayor of the West Midlands met with Professor Monder Ram OBE and Susan Lanz from CRÈME to reaffirm his support for their agenda. This follows the Mayor’s July launch of the BGWM and Race Equality Task Force’s community-led business support pilot at the Legacy Centre in partnership with the Race Equality Council.

BGWM has embedded five of the report’s key recommendations into its delivery, with progress already underway:

Turning Insight into Action

1. Developing sustainable, high-quality business support
   
   WMCA has invested £11 million into the new BGWM advisory service, replacing and building on the work of the region’s Growth Hubs. This investment ensures that businesses - including EMBs - can access impartial, free, and consistent support right across the West Midlands. The service offers specialist programmes and tailored advice, with no cost to the business, providing a strong foundation for growth.
   
   In parallel, WMCA is in discussions with Government to secure devolved business support funding through a Single Settlement. This would create long-term stability for BGWM, enabling more consistent delivery and stronger relationships with EMBs who may be cautious about approaching public institutions.
   
   To raise awareness, a region-wide marketing campaign has been launched using billboards, bus stops, taxi wraps, and local radio. Some locations - such as Alum Rock, Bearwood, and West Bromwich – have been selected for their high business diversity to ensure the message reaches underrepresented entrepreneurs. Early data is encouraging: between April 2023 and March 2024, 42% of BGWM clients came from non-white backgrounds, with particularly high engagement from Black-led businesses.
   
   
2. Improving access through trust-based engagement
   
   A key challenge identified in the report is that EMBs often lack trust in mainstream business support. BGWM is addressing this by taking advice and resources directly into community spaces, working with trusted local partners and events.
   
   This includes continuing initiatives such as Founders Collective (supporting access to finance) and mobile mini-Venturefests (bringing networking and investment opportunities to community venues). BGWM has also been a key sponsor of high-profile events that champion EMBs, including the UK Black Business Show at the NEC (for the third consecutive year in 2025) and the Birmingham Black Business Conference at the Legacy Centre. These events are more than promotional opportunities - they’re spaces where entrepreneurs can build confidence, network, and access targeted support.
   
   
3. Strengthening local networks
   
   Strong business networks are essential for growth, but EMBs can be excluded from traditional spaces. BGWM is tackling this by expanding Venturefest into a year-round programme, with mini-venturefests at the local level feeding into a regional showpiece event each March. This structure allows businesses - including those new to networking - to gradually build connections and confidence before entering bigger investment arenas.
   
   In addition, BGWM is working with Innovate UK to create local action plans that guide EMBs through the innovation funding process, focusing on hyper-local engagement in areas like the Black Country. The growth of the social enterprise sector - which has a high proportion of ethnic minority and female leaders - is also being supported, with WMCA committing to double its size through multi-million-pound investments in anchor organisations and sector support programmes.
   
   
4. Ensuring EMB voices shape policy
   
   Rather than designing business support in isolation, WMCA and BGWM actively seek out direct input from ethnic minority entrepreneurs to ensure services reflect real needs. Staff have attended CREME’s annual conference, hosted policy workshops, and participated in sector events such as the Institute of Small Businesses annual conference.
   
   This engagement allows EMB representatives to contribute ideas, highlight gaps, and influence how regional support evolves - making the offer more relevant, effective, and trusted.
   
   
5. Creating community business hubs
   
   For many entrepreneurs, the first step towards growth is finding advice in a familiar, accessible setting. To make this possible, BGWM has invested £250,000 in five community-based business support hubs located in Wolverhampton, Sandwell, Birmingham, and Coventry - with further plans to add an additional two hubs. 
   
   These hubs - run by organisations such as Access to Business, SWEDA, Legacy Centre, ISE, and The High Life Centre - act as local entry points for BGWM’s services, hosting events, workshops, and one-to-one support sessions.
   
   The aim is to support at least 150 businesses, with 75% or more being ethnic minority or female-led. Delivery is already exceeding expectations, helping entrepreneurs overcome barriers around awareness, trust, and accessibility.

Building a more inclusive landscape

The combined efforts of WMCA, BGWM, CREME, and community partners are helping break down barriers, foster entrepreneurship, and ensure EMBs can thrive. The Mayor emphasised that these initiatives are central to delivering the region’s Growth Plan, ensuring economic opportunity is shared by all.