A new study is underway to better understand the contribution of Asian businesses to the London economy.
The Indo-European Business Forum, business consultancy BDO LLP and inward investment agency London & Partners are working with London-based economic consultants EPG on the report which aims to specifically showcase impact on income, jobs and export opportunities.
Report author Pratik Dattani said this report is particularly important in a post-Brexit economic environment because it also seeks to understand how positive South Asian businesses are about economic and export opportunities in the coming years, and what their reasons are for being based in London.
The report will feature a survey of over 200 businesses, and case studies of the most exciting Asian-owned businesses in the capital. The final report will be launched by the London Mayor’s office in early 2017.
Specifically, the report will look at the Indian and other South Asian contribution to the London economy, across sectors, on the level of income, employment and export opportunities which they generate.
This report will mark a ten-year update to the seminal 2007 Greater London Authority report entitled “Spotlight on Asian Business: Their contribution to London”. That report found in 2006 there were 41,000 Asian-owned businesses in London, providing around 210,000 jobs.
Mr Dattani said: “Asian businesses and entrepreneurs make an essential and distinctive contribution to London’s vitality and success. The number of Asian-owned business and their economic contribution has grown significantly in the last decade, and we want to showcase that.”
South-Asian owned businesses that would like to contribute to the survey can do so via the link at https://www.economicpolicygroup.com/asianbusinesslondonsurvey/. The survey should take no more than 10 mins to complete; and individual survey results will remain strictly confidential.
The survey is being disseminated with the support of the South Asian embassies based in London, as well as through London & Partners, BDO LLP and EPG. The questionnaire has around 24 questions and covers topics from profitability and turnover, employment, reasons of being based in London, reasons for investing in London, and future growth plans. The questionnaire will seek around 200 responses, from a stratified sample of South Asian businesses from the Indian, Pakistani, Bangladeshi, Sri Lankan and Nepalese communities, which are a mix of small, medium and large businesses. The survey link can be found at https://www.economicpolicygroup.com/asianbusinesslondonsurvey/.
Economic Policy Group (“EPG”) is an economic and strategy consulting firm based in London and India, which offers economic analysis, strategic communications, policy advice and market entry assistance with India and East Africa, to businesses and the third sector around the world. EPG works across multiple sectors, including life sciences, healthcare, education, CSR and technology. You can find out more about EPG at www.economicpolicygroup.com.