Commons Sense

House of Commons · Ministers' Questions

Support for SMEs

Thursday 23 March 2023 · 3 questions

Summarised by AI from the official record, so it can contain mistakes.

Read the full transcript on Parliament.uk

At a glance

Answered 2 Partly answered 1 Not answered 0

Key points

  • The Department is supporting UK SMEs through the recovery loan scheme and the start-up loans scheme, which has provided 101,000 loans and nearly 1 billion.
  • The Minister congratulated Jo Gideon on her work to make Hope Street safer and more welcoming, which supports the local economy.
  • The Department has put in place 13.6 billion of business rates support to help businesses over the next few years.

Topics (select to filter)

Questions & Answers

Q1 Jo Gideon
Business & Trade
Context

The question arises from the need to support the growth of SMEs in various sectors, including finance and business.

Question

What steps her Department is taking to help support the growth of small and medium-sized enterprises.

Answer from Kevin Hollinrake

Through finance, we are making sure that the Government are supporting UK SMEs through our recovery loan scheme and through the start-up loans scheme, which has provided 101,000 loans and nearly £1 billion. On business support, a network of 38 growth hubs across England provides access to information and advice, and we are removing barriers by supporting SMEs seeking to export through the Export Academy, UK Export Finance, cutting red tape and incentivising investment.

Answered
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Q2 Jo Gideon
Business & Trade
Context

Businesses and traders in Stoke-on-Trent city centre are supported by the Hanley business improvement district, which is receiving investment from the safer streets fund to improve Hope Street.

Question

Does my hon. Friend agree that such initiatives, which make our shopping areas more attractive, are a good investment that encourages business growth locally? Will he join me in congratulating my city centre BID?

Answer from Kevin Hollinrake

It is a great pleasure to do so. I congratulate my hon. Friend on her work. The money that has been invested in Hope Street will contribute to its being a safer, more welcoming place to visit and shop, which in turn will support the local economy.

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Q3 Margaret Ferrier SNP
Economy Business & Trade
Context

Businesses in high streets face significant challenges due to competition from online shopping, impacting local and small businesses the most.

Question

What discussions has the Minister had with the Chancellor about the urgent need for a long-term, local-scale economic plan to support high streets?

Answer from Kevin Hollinrake

The hon. Lady is right to raise this issue. We have put in place £13.6 billion of business rates support to help businesses over the next few years, but we are also improving access to finance, improving business support through our growth hubs and cutting red tape, making it easier for businesses to start up and scale up in the UK.

Partly answered

Not addressed: Discussions with the Chancellor about a long-term economic plan

How: The Hon. Lady Is Right To Raise This Issue

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