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News & Articles:
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- Caribbean
Food Emporium
- Response
to Banks being tougher on black start - ups
- (Article
in Financial Times and at BusinessEurope.com)
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- Anything
they can do we can do.
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- Prepare
to go over any hurdles which might come your way.
Be determined.
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- Bombard
banks with good business propositions and good business plans.
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- Admittedly the black community is
small - and apparently getting smaller.
The Caribbean population is not
growing in the UK,
for many of the older generation are going back to the Caribbean,
and the many of the younger generation are in mixed
relationships. Immigration
from the Caribbean is no longer prolific,
since a significant number of West Indians prefer to go to
America than England.
Immigration from Africa is a strong growth area.
Many Africans are coming over to study or to work.
It's quite likely that there will soon be more Africans -
Africans here than African- Caribbeans. Therefore
restaurants or take aways who are solely targeting the Black community
cannot hope for major profits and significant growth, for the
market is far too small for that. It's big enough to
maintain some, but others open and close when they find they are
not making any money.
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- Hairdressing is one of the strong
business areas in the black community.
They can turnover more than £3000 per week.
In some areas there is strong competition, with 3 or 4 black salons/barbers on the same road,
all with a strong customer base.
Not many of these hairdressers do much business with
English people's hair.
Or even if they did, not
many (Caucasian) English or Asian people venture in.
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- Whatever
your business, aim to reach
a wide market. Aim
to reach the whole population no matter what nationality they are.
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- For people hoping to venture into
Caribbean Food Businesses, maintain
a range of places where you can get funding.
Not least are the following suggestions.
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- 1)
Get your business plan down on paper in professional format.
Ideas in your head are not helpful.
Sections required for your business plan are
detailed here.
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- 2)
Search for funding
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If you have the money already,
Great? But
still, then
- only put up half the money.
- Let the
bank give you the other half.
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- If you
bank fails you go down this
list.
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Business Link
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London Development Agency
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Chamber of Commerce
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Equity from your own property
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Personal Loans
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Friends/Family
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Venture Capitalists -
if you want to borrow a very large sum of money.
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- 3)
Prepare to go over any hurdles which might come your way. Be determined.
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