Abstract
This chapter appraises the phenomenon of diaspora entrepreneurs among UK-based Black Africans and the degree to which they have internationalized their businesses. In addition, the chapter examines the characteristics of Black African diaspora and transnational entrepreneurship and its similarities/differences with the ethnic entrepreneurship in the UK. Furthermore, concepts that surround this phenomenon such as remittances, diaspora direct investment are reviewed.
TopIntroduction
The aim of this chapter is to interrogate, not only the emergence of diaspora and transnational entrepreneurship among the Black African entrepreneurs in the UK, but also its characteristics and adjunct concepts. The entrepreneurship and the networks of transnational diasporans are an increasingly important stream of research that is improving the understanding of their meaning for contemporary society and the economy, not just in ethnic enclaves but internationally (e.g. Ojo, 2012; Elo, 2015). Similarly, studies on the diaspora and transnational entrepreneurship among Black Africans in the diaspora and the UK are gaining ground (e.g. Ojo, 2012; Ojo, Nwankwo, & Gbadamosi, 2013; Mayer, Harima, & Freiling, 2015; Ojo, 2017). According to Ojo (2013), it is a form of entrepreneurial transformation deriving from ethnic entrepreneurship that highlights the interconnectedness of the country of origin (COO) with the country of residence (COR). It concerns the creation and exploitation of value in cross-border commerce. Whilst ethnic/immigrant entrepreneurship focuses on the contextual and individual variables that permit enclave entrepreneurs to succeed in their local environment, the concept of diaspora and transnational entrepreneurship unlocks another aspect of ethnic/immigrant economic adaptation as it concentrates on the significance of resilient cross-border ties (Portes, Rey, & Oh, 2001; Ojo, 2013).
To facilitate a detail appraisal, this chapter will interrogate the concept of diaspora, diaspora and transnational entrepreneurship, Black African diaspora and transnational entrepreneurship, diaspora direct investment, and remittance. Due to the limited studies on the topic in the UK context, some of the references used are related to the global Black African diaspora.
Key Terms in this Chapter
Remittance: Refers to a transfer of money by individuals living abroad to persons in their countries of origin.
Foreign Direct Investment (FDI): Refers to the investment made by a firm or a business person in one country into another one, hence, representing a flow of capital between countries.
Diaspora: Refers to communities that are scattered from an original center to several peripheral places but still maintaining links, memories, and images of the original homeland as they are not fully integrated with their host country.
Plurilocal Homes: The notion refers to the suggestion that “home” and “abroad” are mixed in diaspora as “home” can be “abroad” and vice versa such that home is an unfixed geographical point, metaphorical space, and likely to be multi-scalar.
Diaspora and Transnational Entrepreneurship: Refers to business activities by a group of ethnic entrepreneurs who shuffle frequently between their countries of residence, origin, and possibly any other country of business interest.
Official Direct Assistance (ODA): Refers to support, expertise, or finance supplied by one country to help the people of another country as foreign aids.
Diaspora Direct Investment (DDI): Refers to an investment made by an individual (or firm) living abroad into her/his country of origin.