The Access Report one year on: Tracking our progress 

This was the first time research had focused on investigating the understanding, perception, and availability of social investment among ethnic minority social entrepreneurs in Scotland.  

The report found that 70% of investment providers did not have specific goals or targets for engaging with and investing in ethnic minority social entrepreneurs. Over three-quarters of investors surveyed (76%) offered ‘one-size-fits-all’ products, overlooking the unique and diverse needs and challenges faced by social entrepreneurs from Black, Asian, and other ethnic minority backgrounds.  

The report outlined a series of practical, actionable recommendations and interventions to help social entrepreneurs from minority ethnic backgrounds access and benefit from social investment and support to scale their social impact.  

We were encouraged to see that the report and its recommendations were welcomed by organisations and individuals across the entrepreneurial and social enterprise ecosystems. Many agreed that more needed to be done and voiced their desire to collaborate on solutions.  

But one year on, has the report catalysed change in how minority ethnic entrepreneurs are supported and able to access investment?  

For Firstport, SIS, and Dechomai, the answer is a resounding yes. When the report was published, the three organisations made several pledges and commitments. The report’s anniversary offers an opportunity to reflect on the progress made, as well as the challenges faced, and where further work is needed. 

Below, we explore some of the recommendations and what we, as partners of the report, have done in response:  

The programme supported 18 social entrepreneurs (most from minority ethnic backgrounds) on their journey toward investment. What’s more, the experience has led to lasting changes in how Firstport delivers the programme, particularly in the design of its new learning platform, LaunchPad.  

The relationships built during the outreach phase continue to provide a route to reach a diverse pool of social entrepreneurs for future cohorts.  

Networking and peer support were already core elements of the LaunchMe programme. However, Firstport introduced new components in its joint programme with Dechomai. For example, it brought in expert partners from global majority communities to host peer sessions and share their journeys, experiences, and learning. These sessions received excellent feedback from participants, and the programme will continue to include them in future rounds. It will also expand the number and diversity of global majority partners involved.  

In the second part of 2024, Firstport established a refreshed Diversity & Inclusion framework. Equality, diversity, and inclusion (EDI) have been an organisational priority since 2020, making significant progress across recruitment, communication, and training.  The new framework takes the work of the early days and pulls it together into a holistic, structured, and thoughtful approach.  The recommendations of the Access Report were considered in the new framework’s priority actions, and this month, Firstport staff and its Investment Committees are undertaking training on unintentional discrimination. 

At SIS, our commitment to change starts from within. Last year, we welcomed Bayile Adeoti, founder and CEO of Dechomai, into the team to carry out an internal audit of our policies, practices, and operations through a DEI (Diversity, Equity & Inclusion) lens. This audit helped identify gaps, challenged assumptions, and led to a set of clear, practical recommendations that are now being implemented across the organisation - from recruitment to marketing communications and funding criteria. 

Testing and validating ideas and accessing tailored support at the early stages of their entrepreneurial journeys emerged as clear needs for ethnic minority social entrepreneurs. These early interventions help build confidence in the entrepreneurs and trust in social investment providers.  

Recognising these needs, Firstport is developing a new strand of the Catalyst Fund called Access Catalyst. This initiative will include incubation support by trusted partners such as DataKirk and Dechomai, participatory decision-making, and mentorship from ethnic minority community leaders. Access Catalyst is expected to open later in 2025. 

Firstport has standardised and simplified all its application forms, enabled tailored support throughout the application process, and is currently reviewing how to diversify application formats, (for example, offering video submissions).  

While progress has been made, challenges remain. 

Some interventions - such as building long-term partnerships across communities - take time and sustained commitment. It’s clear that no single organisation can tackle these issues alone. 

Raising the awareness and understanding of the different types of social investment products available will also take time. Entrepreneurs from all backgrounds, but particularly from ethnic minority groups, are concerned about the risks associated with investment, and this remains a significant barrier. Building their knowledge and confidence will not happen overnight. 

Alastair Davis, CEO of SIS, said: “One year on from the publication of the Access Report, we’ve taken important steps to begin addressing the barriers it brought to light. From auditing our internal processes to hosting targeted events for ethnic minority founders, we’ve focused on listening, learning, and adapting our approach. 

“The work is not done, and we remain committed to working in partnership with SIS, Dechomai and organisations across the entrepreneurial community, so entrepreneurs from all backgrounds have the resources and support they need to start and grow successful social enterprises.” 

We believe the Access Report was just the beginning. As we look ahead, we call on other investors and support organisations to: 

• Review and adapt funding criteria to reflect diverse entrepreneurial journeys. 

• Build long-term relationships with grassroots and ethnic minority-led organisations. 

• Embed lived experience in decision-making processes. 

We invite others to join us - whether by collaborating, sharing learning, or challenging the status quo. If you're interested in getting involved or learning more, please reach out to any of the report partners.