Diversity and representation in 2021
Learn more about the three areas of focus for any business owners and management teams seeking new investment in 2021.
During 2020, investors faced mounting pressure to establish more diverse representation across the leadership of the companies that they fund. As far back as 2017, Sir John Parker led a government-backed review of representation in the UK’s FTSE 100 companies. Among a comprehensive list of recommendations made was the aim for all FTSE 100 boards to have at least one director from an ethnic minority background by 2021 – a target known as ‘One by 2021’.
In February 2020 – a year that saw both the #MeToo and Black Lives Matter movements – an update to the review of FTSE 100 companies in the UK reported that 37% of companies do not have ethnically diverse representation on their board.
While progress towards ethnic representation has been glacial within the UK’s largest businesses, there is positive news in terms of female board representation. The target, set by the Hampton-Alexander Review, for at least 33% of FTSE 350 companies to have female board members is now being met.
For the UK’s start-ups and small businesses, attention has turned to angel investors and venture capitalist firms, many of whom now have specific targets to meet in terms of representation, equality and diversity. These remain central issues for investors.
Below, we set out three areas of focus for any business owners and management teams seeking new investment in 2021.
Invest in Women Hub
Run by the Council for Female Entrepreneurs (CfiFE), this is a one-stop-shop information and guidance resource created to help the UK Government achieve its ambition of increasing the number of female entrepreneurs by almost 600,000 by 2030.Find out more Link opens in a new window
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