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Why UK businesses should embrace diversity

Marta Krupinska, co-founder and general manager at Azimo, looks at why businesses should embrace diversity following the vote for Brexit.

Healthy migration is the key to innovation in vital industries like the technology sector – you just have to look at the startup scene to see that many founders are migrants, myself included (a Polish migrant and entrepreneur).

Across the board, one in seven of all UK firms is founded or co-founded by a migrant entrepreneur, employing 1.6 million people. It’s about creating jobs for Britons, not taking them away.

As one of most multicultural cities in the world, we chose to run Azimo from London and we are not the only ones. The founders of Citymapper, YPlan and Farfetch also moved to the UK, built multi-million dollar businesses and created plenty of jobs along the way.

A hotbed of talent

Undeniably, Europe is a hotbed of talent, with people from across the continent coming to London and bringing skills in technology and engineering, helping to fuel the booming technology sector and make London one of the leading cities globally for technology and innovation.

London is a fantastic place to start a business, from its central location and time zone; it gives companies the ability to work across Europe and other continents with much more ease.

From the pub to the boardroom, everyone’s talking about migration in the UK, and the EU referendum has made it more topical than ever. But in in order to have a successful company and healthy workforce, I believe diversity is crucial.

A healthy workforce

As an example, 77% of our London office is born outside the UK. This cross-cultural diversity is what makes our business thrive. Running a service that targets migrants, we are able to understand our customers, and share our personal experiences to create new ideas and ultimately deliver the best service for our customers – after all, it’s diversity that fosters innovation.

Online, social and wider media paint a horrific portrait that migrants are poorly educated, only intent on claiming benefits and don’t speak English. These conceptions couldn’t be more wrong. The plain truth is that more than 60% of migrants in Britain are either employed or in higher education, and 50% arrive here with a degree.  

Research from University College London also shows that European migrants are far from a drain on the UK’s finances. In fact, they pay more in taxes than they take out in state benefits. That contribution, valued at £2bn a year, is helping to fuel Britain’s economic growth.

Women in the workplace

Diversity in the workforce is not only a cultural issue, but a gender one too.  We are making tremendous progress, and a recent study reported that a fifth of tech firms in the UK are run by women, but more progress needs to be made.

With research highlighting that businesses with more than 10% of women at the helm having higher returns than those that aren’t gender balanced, it is both surprising and concerning that companies are not cottoning onto this fact and embracing it.

More needs to be done to truly showcase fantastic women in tech and business, focusing on the positive results and inspiring other females and demonstrating what they can achieve.

Bringing people together

I’m disappointed that the nation has decided to leave the European Union. The world needs fewer borders, not more. However, as entrepreneurs and business leaders, we need to avoid burying our heads in the sand, and rise above Brexit.

In such an uncertain climate, it’s time to start focusing on bringing people together, not keeping them apart. Be vocal in advocating and appreciating the benefits diversity brings.

It’s better for business and, ultimately, better for the country.

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