New guidance has been published this week, aiming to overcome the barriers facing low-income households when starting new enterprises.

To compile their findings, researchers from the European Centre for Environment & Human Health conducted a review of existing studies, along with interviews and workshops with aspiring low-income entrepreneurs and policy makers across Cornwall.

Download the briefing in full here >>

One of the main obstacles to growth identified were financial barriers, both for businesses and community groups, including perceptions of financial risk and a lack of start-up funding.

Participants also highlighted limited transport links as an issue in Cornwall, whilst the distance from the rest of the country made running a business even more expensive, compounding financial barriers and restricting access to other markets.

The policy briefing also details other barriers, such as limited access to institutional capital and to broader social networks.

Despite numerous enterprise support programmes in Cornwall and across the UK, many have failed to reach low-income individuals aspiring to start a new business.

Lucia Pratto, one of the lead authors of the report, said:

“Our findings underline the importance of addressing both systemic and specific local barriers for low-income entrepreneurs, and highlight the value in embedding entrepreneurial support programmes within communities. We hope that the briefing will help policymakers to support an inclusive and sustainable business culture across Cornwall.”

Read more about the project and briefing here.