Business

There are very few studies on the participation and contribution of Muslims in Business in the UK. International investment and ownership have never been analysed, but deemed to be highly significant and growing in terms of the economy and employment. Research shows that British Muslims make a net £31 billion contribution to the country, and this excludes the very significant investment and spending from International / Foreign Investment. £20.5 Billion estimated spending power by British Muslims 10,000 British Muslim Millionaires 13,400 Muslim owned businesses in London alone, creating 70,000 Jobs £1 Billion estimation of UK Halal food sector UK company research was carried out by Al Rayan Bank PLC, stating that 6.8% of businesses in UK considered being “Muslim influenced” Al Rayan Bank PLC, formerly known as Islamic Bank of Britain (IBB), has revealed findings from the UK’s first ever survey into the British Muslim business market. The research, which was part of a broader analysis of all businesses trading in the UK, provides insight on the size and location of Muslim-influenced* businesses in the UK. The study, entitled ‘Understanding the UK Business Landscape’, provides a fascinating insight into the British Muslim business market, a previously under researched area of UK business. The results of the study, which were attained through a combination of public, modelled and research data, estimate that:

bulletpoint  The UK is home to 297,715 companies, where at least one third (33%) of directors are believed to be Muslim. Of these companies, 230,877 are considered ‘live and trading’.

bulletpoint  6.8% of the companies in the UK are believed to have at least one-third Muslim directors; with 5.8% having at least two thirds (67%) Muslim directors.  A separate study by Experian in 2012 indicated that Muslim adults account for 3.1% of the UK adult population**.

bulletpoint  96.8% of companies where Muslims account for two thirds of directors have three or less directors in total.  This compares with 93.0% of companies, which are not Muslim influenced (i.e. where less than one third of directors are believed to be Muslim).

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