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Minority-led businesses in Europe contribute over €570 billion to the economy

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Black entrepreneur checking her laptop in a office corridor
An estimated 4.7% of businesses in Europe are led by minority entrepreneurs | Photo: Christina Wocintech

A leading think tank focusing on migration and diversity has launched its Minority Businesses Matter: Europe report, commissioned by Minority Supplier Development UK (MSDUK) and the European Supplier Diversity Project (ESDP), which examines the contribution and challenges of ethnic minority entrepreneurs across Europe.

The  Open Political Economy Network report uses data across eight European countries (Germany, France, Italy, Spain, the Netherlands, Sweden, Belgium and Ireland), and is both the first report to capture this data across Europe and provide the first ever list of Europe’s top 50 minority businesses. It follows a previous report on UK minority businesses by OPEN and MSDUK published in February 2021. 

The report, sponsored by Unilever, Meta, IBM and AstraZeneca, found that minority businesses have a combined turnover of at least €570 billion in Europe, account for at least 4.7% of all businesses (800,000 businesses) and employ at least 2.7 million people. Germany makes the highest contribution (€191 billion), followed by France (€120 billion) and the Netherlands (with at least €88 billion). The businesses include French shipping giant CMA CGM (€47 billion turnover), German COVID-19 vaccine producer BioNTech (valued at €41bn) and six unicorns, including Berlin-based Gorillas, an instant grocery-delivery service (valued at €2.5-3bn), among others.

Of the top 50 minority businesses in Europe, the majority are founded or owned by entrepreneurs who originate from Turkey, (15), as well as from India (10), ethnic Arabs (10) and one by a black entrepreneur of African origin. Three are founded or owned by women.

According to the report, ethnic minority entrepreneurs in Europe face many challenges, including discrimination and lack of contacts, contracts, and capital. Citing the European Commission, the report states nearly three in five people in the EU say that discrimination on the basis of ethnic origin or skin colour is widespread in their country. The report notes that despite these challenges, many minority businesses still succeed, and that minority entrepreneurs tend to have strengths such as a burning drive to succeed, the determination to overcome the many challenges they face, and the resilience to bounce back from setbacks.

“Despite the huge challenges they face, minority businesses in Europe are leaders across tech, sustainability and healthcare and their contribution to the economy through valuable jobs, wealth and innovation will only continue to grow. While such successes are remarkable, ethnic minority entrepreneurs still do not enjoy equal treatment in Europe, an issue obscured by the lack of transparency around data and reporting on ethnicity in Europe. It is both smart business and a moral imperative to tackle this challenge and ensure minority businesses thrive across Europe, which is why we have compiled this report as a call to action for European governments and corporations.”, says Philippe Legrain, Founder of OPEN and lead author of the report.

Currently there is no official data on the overall contribution to the EU of minority entrepreneurs, and therefore the report collected official data on residents’ ethnicity in Europe using an algorithm powered by artificial intelligence to identify beneficial owners who are from ethnic minorities (those who are not white and of European descent). 

EuroNewsweek is a dynamic news platform featuring lifestyle, sustainability, successful stories, tech, leadership, creative marketing, business, and the unstoppable people behind them.

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The Häagen-Dazs Rose Project announces 50 nominees

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Kim Rihal, founder of social enterprise Equal Education, is one of the 50 women shortlisted for The Häagen-Dazs Rose Project
Kim Rihal, founder of social enterprise Equal Education, is one of the 50 women shortlisted for The Häagen-Dazs Rose Project

Earlier this year, on International Women’s Day 2023, Häagen-Dazs launched ‘The Rose Project’, a global initiative with a $100,000 (USD) bursary grant inviting nominations to recognise unsung trailblazing women in honour of the brand’s female co-founder Rose Mattus. Yesterday, 23 November, on what would have been Rose Mattus’ birthday, Häagen-Dazs announced the top 50 #WomenWhoDontHoldBack nominees being shortlisted for their achievements and its five globally accomplished Häagen-Dazs Rose Project judges.

Over 2,500 applications were received for The Häagen-Dazs Rose Project putting forward pioneering efforts and societal contributions made by women across the globe. From these, 50 talented and inspirational women have been shortlisted and will be put forward to win one of five monetary grants of $20,000 (USD), which will be announced on International Women’s Day 2024, to continue their exceptional work, unleash their potential or give to a cause they are passionate about. The top 50 shortlist includes women from 17 countries hailing from across Europe, Asia, Africa & Middle East, Australia and the Americas.

The all-female judging panel from across the world has been handpicked for the final selection stage of The Häagen-Dazs Rose Project includes. UK-based author, broadcaster and philanthropist Katie Piper, fashion entrepreneur and advocate for women’s fertility issues, Velda Tan from Singapore and Spanish entrepreneur and creative director Inés Arroyo, are amongst the judges.

“International Women’s Day 2023 marked the launch of The Häagen-Dazs Rose Project to honour the legacy of our co-founder, Rose Mattus, and create a fund platform to provide opportunities to women across all fields around the world who are truly deserving of support and recognition. We were thrilled to receive thousands of nominations across countries and our #WomenWhoDontHoldBack Top 50 shortlist is a compelling and diverse mosaic of trailblazing female narratives that moved us and serve as an inspiration to women everywhere”, says Aurélie Lory, Häagen-Dazs spokesperson.

To find out more about the story of each entrepreneur shortlisted for The Häagen-Dazs Rose Project, visit: https://iwd.haagen-dazs.global/en/.

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47% of women feel their workplace is not combatting inequality

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Katherine Maher, CEO, Web Summit, on Centre Stage during day one of Web Summit 2023 at the Altice Arena in Lisbon, Portugal
Katherine Maher, CEO, Web Summit, on Centre Stage during day one of Web Summit 2023 | Photo: Eóin Noonan/Web Summit

The proportion of women who feel that their workplace is not taking appropriate measures to combat gender inequality has nearly doubled in a year, a new survey has revealed.

Web Summit, the world’s largest technology event taking place in Lisbon this week, has released its third annual State of Gender Equity in Tech report, which is based on a survey distributed among its women in tech community.

76.1 percent of respondents feel empowered to pursue and/or hold a leadership position; fewer respondents (41.8 %) feel the need to choose between family and career when compared to 2022 (50.4 %); and there is at least one woman in a senior management position in 80.4 percent of respondents’ companies, a similar proportion to last year (81.3%).

The survey found that 70.5 percent of respondents feel pressure to prove their worth compared to male counterparts, while 77.2 percent feel they need to work harder to prove themselves because of their gender.

Over three quarters of respondents (76.1 %) feel empowered to pursue and/or hold a leadership position. And almost half of respondents think that their workplace is not taking appropriate measures to combat gender inequality, increasing from 26 percent in 2022 to 47
percent in 2023.

“While it is encouraging to see progress in some areas, such as those feeling the need to choose between their family and career, there are also some deeply concerning trends within this report. Seeing an increase in those who report having experienced sexism in the workplace in the last year is disheartening in 2023. We hope that this kind of research can breed some positives, and that it will push workplaces – and women within these workplaces – to broach these topics and make progress in these areas,” said Carolyn Quinlan, VP of community at Web Summit.

Last year, 42 percent of attendees at Web Summit were women and 33 percent of speakers were women. In 2023 these numbers have slightly improved with 43 percent of attendees and 38 percent of speakers on stage being women this year.

The women in tech programme at this year’s Web Summit is at capacity, and the women in tech programme at Web Summit Rio 2023 reached capacity in record time.

The WebSummit 2023 is running from November 13th to 16th in Lisbon, Portugal.

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Krispy Kreme to give away free donuts on World Kindness Day

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A box of Krispy Kreme donuts opened and with donuts inside
The company, founded in 1937, is giving away 60,000 free doughnuts around the world today | Photo: Clément Proust

American multinational doughnut company and coffeehouse chain, Krispy Kreme, is celebrating “World Kindness Day” today by distributing free donuts in the US and the UK.

The chain is giving away a box of a dozen glazed donuts for free with no purchase necessary. But only the first 500 guests that visit each participating Krispy Kreme US stores on “World Kindness Day”, Monday November 13th, will be able to get a free box of donuts.

Krispy Kreme often gives away free or discounted donuts to generate buzz on special occasions. The company, founded in 1937, traditionally gives out free donuts to customers on National Donut Day, celebrated on the first Friday of June of each year. And in July, a dozen of glazed donuts were sold for 86 cents to celebrate its 86th birthday.

Thousands of free donuts are also expected to be given away today across Krispy Kreme stores in the United Kingdom, with customers being encouraged to ask for the World Kindness Day offer. No purchase necessary.

The company, which operates in over 30 countries around the world, said it wants the brand associated with World Kindness Day to make “meaningful connections” with customers.

“World Kindness Day is an opportunity to make a positive difference by being generous,” Dave Skena, Krispy Kreme’s global chief brand officer, said in a release. “Simple gestures of caring and thanks, including sharing a sweet treat, is a great way to do that.”

Krispy Kreme said that it’s considering expanding a limited partnership it has with McDonald’s to sell more of its donuts at the latter’s location.

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