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Having a great idea for a product or service is seldom enough to become a successful entrepreneur. It is often a key component, but there are many other skills required.
Black founders are being significantly underrepresented when it comes to venture capital investing in their businesses, according to research. Just 1 per cent of founders who have raised pre-Seed funding for their start-ups are black, rising to 3 per cent of founders who successfully raised later-stage Seed and Series A funding. Compare this to the fact that 53 per cent of founders who have raised either Seed or Series A are based in London, where the general population is estimated as 16 per cent black. The figures are slightly better for Asian founders, who accounted for 7.3 per cent of tho...