Some of the country's most innovative and successful businesses were the featured guests at Friday's Queen's Awards for Enterprise event, but speakers made it clear they wanted to see some new faces.
While praising the success achieved by this year's 137 award-recipients in the categories of International Trade, Innovation, Sustainable Development and Enterprise Promotion, event presenters stressed the importance of inspiring women and Black and Minority Ethnic (BME) workers into enterprise.
"It is vital to see that entrepreneurs from minority ethnic backgrounds have an equal opportunity to succeed," said Martin Wyn Griffith, chief executive of the Small Business Service.
Of the 4 million businesses in the UK, ethnic minorities own nearly 7%, he said. This equates to approximately 250,000 businesses, and Asian businesses account for over half of these.
Wyn Griffith praised award recipients who are helping BME enterprises start and grow. One such recipient, winning a Standard Award for Achievement in Enterprise Promotion, was Sikander Badat, head of policy for the Ethnic Minority Business Development, Chamber Link, in Bolton.
Badat was recognised for attracting private investment and training to the Bolton and North West region and supporting ethnic businesses, 90% of which have survived for over two years
Badat has helped reduce BME economic disadvantages in the region by supporting the growth and development of ethnic small and medium enterprises. He initiated a BME Youth Network and a BME Women's Network and undertook work which led to the formation of a BME North West Business Forum
"Apart from the interests of the economy, there are compelling reasons for individuals to become more enterprising," said Wyn Griffith.
"As more people are employed by businesses facing high levels of change, management structures flatten out and individuals change jobs more often, so people will need to spot opportunities, take initiatives and adapt to changing circumstances," he added.
"Enterpreneurship and enterprise promotion are now global," said Kenneth O'Neill, professor of entrepreneurship and small business development at the University of Ulster and winner of the Lifetime Achievement Award for Achievement in Enterprise Promotion.
"They speak to all markets - to advanced economies, to emerging economies, and to newly-opened economies like China. It excites me to think that today's and tomorrow's entrepreneurs and their promoters are living with such a potential harvest."
