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LGBTQ+ businesses contribute over £106 billion to the UK economy despite huge challenges, report finds

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Based on largest-ever survey of UK LGBTQ+ entrepreneursSector focus on tech, fintech, biotech and sustainabilityChallenges include disclosure issues, discrimination and doubt

LONDON, Oct. 28, 2024 /PRNewswire/ — In partnership with OutBritain, the UK’s first LGBTQ+ chamber of commerce, Open Political Economy Network (OPEN), a leading think tank focusing on diversity and tech, has today launched its LGBTQ+ Businesses Count report, which examines the contribution, challenges and characteristics of LGBTQ+ entrepreneurs across the UK. In the absence of official UK data on LGBTQ+ businesses, this pioneering report presents the results of the largest-ever survey of LGBTQ+ entrepreneurs in the UK.

The report, sponsored by Accenture, Dow and Goldman Sachs, estimates that there are at least 250,000 LGBTQ+ businesses in the UK, which employ at least 750,000 people, many of them LGBTQ+, and have a combined turnover of at least £106 billion. The largest business founded by an LGBTQ+ entrepreneur that the report identifies is Global Media and Entertainment, which owns Heart, Capital, LBC and many other radio stations, whose founder and CEO Ashley Tabor-King is openly gay.

Most LGBTQ+ entrepreneurs in the report’s survey pointed to particular challenges that they have faced in business because of being LGBTQ+. The most prevalent was doubt, followed by disclosure issues, notably invasive or inappropriate questions and a lack of role models. Next were discrimination and disconnection from mainstream business networks.

At the same time, most entrepreneurs mentioned benefits to their business from being LGBTQ+. Some 68% said it made them more determined to succeed and overcome adversity and 67% that their diverse perspectives and experience yielded business benefits, while 42% gained from an LGBTQ+ customer base.

To mitigate some of the challenges faced by LGBTQ+ entrepreneurs, OPEN proposes three recommendations on collecting better data, providing distinct support and developing supplier diversity:

Better data. Good public policy, sound business decisions and broader public understanding all require solid data. Companies House therefore ought to ask (but not require) company directors to disclose their sexual orientation and gender identity.Distinct support. To ensure that LGBTQ+ businesses have a voice in government, an LGBTQ+ business envoy should be appointed. Mainstream business networks should also be more pro-active in attracting, including and representing LGBTQ+ businesses. OutBritain also has a crucial role to play.Supplier diversity. Both large corporates and public authorities ought to do more to enhance equality of opportunity for diverse businesses, notably LGBTQ+ ones, in their procurement decisions. This would help LGBTQ+ businesses overcome the entrenched disadvantages they face, while providing corporates with more diverse and resilient supply chains.

Philippe Legrain, Founder of OPEN and lead author of the report, said: “While the UK has made huge progress in tackling legal injustices and social prejudices against LGBTQ+ people, the past leaves scars. Moreover, business tends to lag behind society as a whole in its acceptance of LGBTQ+ people; among the chief executives of the FTSE 100 leading companies, only one is openly gay. So, it is hugely important to document both the contribution and the challenges of LGBTQ+ entrepreneurs in the UK, which is why we have produced this report as a call to action to the government, mainstream business organisations and large corporations.”

Matt Dabrowski, Founder of OutBritain, said: “OutBritain has become a beacon in the UK’s business landscape, demonstrating how diversity is not merely a tagline but a potent catalyst for unprecedented change. Supporting LGBTQ+ businesses and seamlessly integrating them into the global economic ecosystem is at the heart of our organisation. This report not only celebrates the vibrant and dynamic contributions our community make to the UK’s economy, but more importantly, it will allow us to focus and align our efforts in driving a fairer, more diverse UK economy where LGBTQ+ entrepreneurs and businesses are given fair representation and the opportunity to thrive.”

NOTES TO EDITORS

ABOUT THE REPORT #LGBTQBusinessesCount

The report is based on an online survey of 1,517 self-identified LGBTQ+ business founders and owners conducted between January and May 2024.

ABOUT OUTBRITAIN 

OutBritain, the UK’s first LGBTQ+ chamber of commerce, connects, supports and grows the UK LGBTQ+ business community, while connecting it with the rest of the world.

ABOUT OPEN @open2progress

OPEN is an international think tank that focuses on diversity and other openness issues. Its previous reports include Minority Businesses Matter: The Contribution and Challenges of Ethnic Minority Businesses in the UK.

DISCLAIMER

OPEN gratefully acknowledges the financial support of the sponsors of this report, Accenture, Dow and Goldman Sachs. At the same time, the content, words, opinions and views are solely its own and do not necessarily reflect the institutional views of said sponsors or any of their affiliates.

PRESS CONTACTS
info@opennetwork.net
matt@outbritain.co.uk 

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Michael Johnson Promoted to VP of Technical Services for Astro Pak

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Astro Pak promotes Michael Johnson to Vice President of Technical Services, now overseeing both the Technical Services and Engineering Services Groups. A seasoned expert in spaceflight hardware cleaning, Johnson aims to drive innovation in high-purity cleaning and support Astro Pak’s growth. The Technical Services Group focuses on pioneering industry processes, while the Engineering Services Group advises on facility design for longevity and safety.

COSTA MESA, Calif., Nov. 13, 2024 /PRNewswire/ — Astro Pak announces that Michael Johnson has been promoted to its Vice President of Technical Services. He is stepping up from his previous role as Director of Technical Services for the company. His new role places both the Technical Services Group (TSG) and the Engineering Services Group (ESG) under common leadership. The TSG is Astro Pak’s Research and Development group made up of subject matter experts with deep knowledge gained through many years of experience in their respective fields. This team is dedicated to developing new, industry-leading processes and chemistries, some of which become the industry standards. Additionally, the group also serves as an internal consulting resource for Astro Pak’s Field Services and Cleanroom divisions in providing expert advice on resolving its clients’ most challenging projects. Meanwhile, the ESG is a relatively new, customer-facing resource which can be engaged to consult on best practices when designing new facilities to maximize their maintainability to ensure longevity and product safety.

“Our mission is to position Astro Pak on the technological forefront of precision and high-purity cleaning, providing ongoing support for sales, operations, and business development.”

Mr. Johnson himself is a recognized subject matter expert in the highly specialized field of precision cleaning of spaceflight hardware. He joined Astro Pak in March of 2021 after a career of nearly 30 years at the Kennedy Space Center in Florida. There, his work included serving as General Manager of the Chemical Analysis Laboratory and Spaceflight Hardware Precision Cleaning and Refurbishment Operation which included the Space Shuttle program. His other work included designing facility equipment and solvent delivery system as well as working with Boeing and NASA to replace the environmentally hazardous Freon 113 solvent. He also led a team collaborating with Lockheed to clean a contaminated titanium tubing system onboard the Orion space capsule without the need to remove it.

In his new role, Mr. Johnson plans on continuing his mandate “to build and lead a department whose mission is to position Astro Pak on the technological forefront of precision and high purity cleaning and to provide ongoing technical support for sales, operations, and business development.

Media Contact

Mary Cheng, Astro Pak, 9492700812, marketing@astropak.com, https://astropak.com/ 

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SOURCE Astro Pak

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Revolutionizing Heart Health: Frontier X Plus Gains FDA Clearance

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NEW YORK, Nov. 13, 2024 /PRNewswire/ — Fourth Frontier, a medical technology company based out of New York and Bangalore, announced the 510(k) clearance of the Frontier X Plus from the U.S. FDA. The Frontier X Plus is an innovative single-lead, continuous ECG monitor that is worn around the chest and wirelessly relays the user’s ECG instantly to remote dashboards. A range of advanced algorithms identify and classify cardiac rhythm as Bradycardia, Tachycardia, Normal Sinus Rhythm, or Atrial Fibrillation. The device demonstrated best-in-class signal quality during a range of motions including during intense exercise. The wearable ECG monitor further demonstrated equivalence in the classification of cardiac arrhythmias when compared with the conventional 12-lead ECG, through clinical trials in India and the US.

According to the Center for Disease Control, one person dies every 33 seconds from Cardiovascular Disease (CVD), and CVDs are responsible for one in every five deaths in the US. The American Heart Association reports that between three to six million Americans have reported an incidence of Atrial Fibrillation. This number is expected to rise to 16 million by 2050. Atrial Fibrillation has been described as a global epidemic and is a key indicator of reduced morbidity and mortality in individuals of all age groups. Globally, the incidence and prevalence of Cardiovascular Disease (CVD) has been increasingly observed in younger individuals and is one of the leading reasons for premature death.

“We have seen cardiac arrhythmias develop in individuals of all ages, and the incidence is significantly higher for individuals who are both active and have cardiac health risk factors. The percentage of population that falls in the confluence of these categories is continuously rising. Since the FX+ is able to capture ECGs during all kinds of motion and activity, we think this will be a game changer and significantly improve the early detection of cardiovascular disease,” said Manav Bhushan, co-founder and CEO of Fourth Frontier.

With this clearance, the company plans to enter the US market as a prescription based, class II medical device. Fourth Frontier will partner with Independent Diagnostic Testing Facilities (IDTFs) and cardiac rehabilitation centers to offer at-home remote monitoring services. In the near future, the company has plans to introduce AI algorithms which analyse the ECG for early diagnosis of different kinds of heart conditions, a potential breakthrough for people using the device in their everyday lives.

About Fourth Frontier:

Fourth Frontier is a pioneering health tech company that builds and offers products and services for monitoring and improving heart health for people across the world.
Cardiovascular disease is the leading cause of mortality across the globe. Despite its importance, affordable products and services to monitor and improve heart health from the comfort of the home have not been available to consumers. Fourth Frontier is committed to solving this important problem.
With over 150 million minutes of data, 120,000+ users, and a presence in 4,000+ cities across 50+ countries, the device is trusted by people who want to enhance their heart health and fitness.
To learn more about Fourth Frontier, please visit www.fourthfrontier.com, or follow us on Linkedin or Twitter.

Media Contact: pr@fourthfrontier.com

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/R E P E A T — MEDIA ADVISORY- Governments of Canada and Northwest Territories to Make Critical Minerals Infrastructure Announcement/

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YELLOWKNIFE, NT, Nov. 8, 2024 /CNW/ – Michael McLeod, Member of Parliament for the Northwest Territories, will make a critical minerals infrastructure announcement on behalf of the federal Minister of Energy and Natural Resources, alongside Caroline Wawzonek Northwest Territories Deputy Premier, Minister of Finance, Minister of Infrastructure and Minister Responsible for the Northwest Territories Power Corporation. Media availability will follow.

Date: Wednesday, November 13, 2024

Time: 2 p.m. MT

All accredited media are asked to pre-register by emailing media@nrcan-rncan.gc.ca.

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SOURCE Natural Resources Canada

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