Overcoming the Obstacles? Access to Bank Finance for African-Caribbean Enterprise
Author(s)
Barrett, Giles A.
Abstract
Small enterprises under the ownership of persons of African-Caribbean origin are a relatively under-researched phenomenon (Barrett et al. 1996). This article seeks to partially fill this research void by drawing on evidence collected from in-depth interviews. The article highlights strategies utilised by African-Caribbeans in financing their businesses, particularly in respect of their take-up of bank finance. Contrasts are drawn with a control sample of South Asian and white businesses. The nature of the finance used for the business start-up is exposed. The article concludes that access to a key source of start-up capital, bank finance, is still a major stumbling block for prospective African-Caribbean business owners. This resource gap threatens the sustainability of their enterprises and the long-term development of an African-Caribbean business-owning class.
