NPH Ethnic Minority Business Barometer 2024:
The NPH Ethnic Minority Business Barometer report will be an annual survey of Ethnic Minority owned businesses across the UK’s Northern Powerhouse which will determine their business confidence levels. It will also give a vital insight into emerging economic trends which will help with forecasting and forward planning. The report will cover a range of standard questions from business activity and economic optimism to staff levels, wages and prices charged. Regional and sector insights within the report will provide an extra tier of information, this will give an opportunity to better understand the economic environment relevant to business sector and location.
The report will include additional questions on special topics of interest such as the COVID-19 pandemic, Brexit and the Budget. The report will provide an annual insight into business confidence levels which will provide invaluable data visualisation to inform and equip decision making and formulate plans, In the ‘The Time to Change Report’, produced by the Centre for Research in Ethnic Minority Entrepreneurship (CREME), Aston University, a recommendation was to gather better data on entrepreneurial diversity to foster evidence-based policymaking, ‘The contribution of ethnic minority businesses (EMBs) to the UK economy could increase four-fold from £25bn to £100bn GVA by realising the changes in the report’.
Definition of Ethnic Minority
Ethnic minorities’ refer to all ethnic groups except the white British group. Ethnic minorities include Black, African, Caribbean, Asian and white minorities, such as Jewish, Gypsy, Roma and Irish Traveller groups. A group within a community which has different national or cultural traditions from the main population.
Methods of Data Collection and Analysis
This research will adopt a mixed method of research utilising quantitative and qualitative research methods.
Quantitative research will be in the form of a questionnaire to aid with the process of collecting and analysing the numerical data, this will be useful to find patterns and averages, make predictions, test causal relationships, and generalise results to wider populations.
Qualitative methods to obtain high-quality and honest data, case studies with a semi-structured interview techniques will be used, this will involve analysing the secondary data and then move to case study methods and empirical data collected to understand the specific challenges The inferences will be drawn from the empirical conclusions in combination with the results in the existing literature.