In his address,  Reverend Jackson highlighted the growing economic force and power of the black and ethnic minority communities in both Britain and  America.  He pointed out  that ethnic minority businesses in the two nations have an "added-value",  providing direct links to overseas markets through the Diaspora.

Reverend Jackson said: "If you don't include the BME businesses in your economic development
strategies, you are loosing a major asset in the community. I am keen to facilitate links between BME businesses in Britain and America."

As the body charged with driving London's sustainable economic development, the London Development Agency plays a critical role in supporting the growth and development of the city's businesses, including those owned by the capital?s Asian, Black, Chinese, Turkish and other minority ethnic groups.

According to Manny Lewis, Chief Executive, LDA: "We commissioned this research because
emerging evidence suggested that the number of these black and minority ethnic-owned
businesses in London had grown significantly over the past decade and were making major
contributions to the regional and national economy."

This ground breaking research has confirmed the initial evidence and highlighted the extent to
which BME-owned businesses are becoming a major economic force in London.

Altogether, 48 experts participated in the three think tanks. The experts displayed tremendous energy and creativity. The three think tanks recommended the following:

Business advice and information

Support of London's BME enterprise population should be a high priority in all economic development policies. This support should be tailored to meet the needs of entrepreneurs and businesses in relation to sectors, geography and business maturity.

Six areas of business development -- business support and advice, finance, public and private sector contracting, business premises, information and advice, and international trade -- should be the focus of support for BME entrepreneurs.

Resources should be targeted at BME-owned businesses, who show potential, operating in mainstream and growth sectors, as well as those with growth potential in the traditional and ethnic niche sectors.

Business support priorities should include a focus on BME women entrepreneurs, and recognise
some of the barriers facing them, such as access to affordable childcare.

Young people should be particularly targeted for general  business support activities.

Further consideration should be given to the development of existing BME business networks
with a good track record or those with the potential  for development.

Successful BME entrepreneurs should be invited to  participate in the development and delivery
of appropriate business support policy in the capital.

Baseline data should be maintained on BME-owned businesses and included in the LABS
(London Annual Business Survey).

Coherent guidance should be produced on the commissioning and sharing of data on BME-
owned businesses in the capital.

A BME-led regional forum should be established to coordinate work at both strategic and delivery levels.

Private and Public sector contracts

Both public and private markets should continue to be targeted for greater transparency and
openness in the use of suppliers, including those from BME communities.

The role of the London Business Support Network in delivering tendering, purchasing and
procurement advice to BME-owned businesses should be enhanced.

Within the limits of EU procurement legislation, the GLA should explore the possibility of greater
use of community benefit clauses and investigate legislation, such as the Race Relations
(Amendment) Act, in relation to promoting BME-owned businesses.

Further development of master-vendor and framework agreements and the unbundling of
contracts to encourage the use of more BME entrepreneurs to deliver to large private sector firms should be encouraged.

Business premises

Business support agencies should actively advocate the development of appropriate and
affordable premises through appropriate financial mechanisms.

Major public sector stakeholders should work with experienced workspace providers to acquire
and subsidise suitable premises for small businesses.

Different models, which provide entrepreneurs with managed workspace and greater access to
technology and innovation, finance and business support should be evaluated for their relevance to BME-owned businesses in London.

The development of industry-specific business premises, such as for the creative industries, needs to be reviewed and expanded to other sectors.

According to LDA research, there were around 66,000 BME-owned businesses in London, employing 560,000 people and generating a combined sales turnover of ?90 billion in 2004. In  addition, there are approximately 93,000 self-employed people from BME communities who are
also contributing to the London economy.

These businesses and individuals are therefore making major contributions to the
London economy  in terms of job creation, employment, GDP, income and wealth creation.

The research also highlighted the enormous spending power of London?s BME communities, who have an after-tax income of £16 billion. This purchasing power has a major impact on the regional economy through spending and other economic activities.

No longer limited

BME-owned firms are no longer limited to operating in the ethnic niche and traditional markets.
An increasing number of entrepreneurs are now running successful multi-million pound
businesses in mainstream and international growth sectors such as banking and financial
services, business and professional services, ICT, media, fashion and manufacturing.

Many of them are also building international trade dimensions into the core of their business
activities and there has also been a major growth in the number of businesses owned and
managed by women from the different BME communities.

Despite these successes, however, there is evidence that BME-owned businesses encounter disproportionate barriers, particularly in securing contracts and accessing start-up and growth finance, obtaining affordable business premises, quality business support and international trade opportunities.

The multi-agency action plan accompanying this research will help address some of these barriers. It provides a practical framework for the LDA and its partners to develop joint and coherent business support strategies and programmes that support the growth and potential of BME-owned firms. The strategic aim is to assist this important business community to make an even greater contribution to the capital's economy and prosperity.