Commons Sense

House of Commons · Ministers' Questions

Small Business Council

Thursday 7 March 2024 · 4 questions

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

Read the full transcript on Parliament.uk

At a glance

Answered 1 Partly answered 3 Not answered 0

Key points

  • The Government reaffirmed its commitment to small businesses by creating the Small Business Council on 1 February 2024.
  • The Small Business Council includes entrepreneurs like Emma Heal and Julianne Ponan, providing expert advice on business growth.
  • The Minister expressed support for hydrogen sector opportunities, including the Humber hydrogen cluster.

Topics (select to filter)

Questions & Answers

Q1 Craig Tracey Con
Business & Trade
Context

The question seeks details on the steps being taken by the Department to support SMEs through the Small Business Council.

Question

What steps her Department is taking to support small and medium-sized enterprises through the Small Business Council?

Answer from Kevin Hollinrake

On 1 February, the Government reaffirmed our commitment to all the UK's 5.5 million small businesses with the creation of the new Small Business Council, which is looking at key areas, such as improving business support, access to finance, support and advice, and breaking down barriers, including barriers to female entrepreneurship.

Partly answered

Not addressed: Specific steps taken by the Department were not detailed; only a general statement was provided

How: General Commitment

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Q2 Craig Tracey Con
Business & Trade
Context

The question arises from the growing number of female-led businesses and seeks specifics on how the new council can aid their growth.

Question

Can the Minister set out how the new Small Business Council can help them to grow?

Answer from Kevin Hollinrake

The Small Business Council has excellent entrepreneurs on it, such as Emma Heal from Lucky Saint and Julianne Ponan from Creative Nature, who we rely on for expert advice. The investing in women taskforce helped increase the number of female entrepreneur businesses from 56,000 in 2018 to 150,000 in 2022, with 240 signatories to the code.

Partly answered

Not addressed: Specific mechanisms to aid growth were not detailed; only past achievements and taskforce details were provided

How: Past Achievements

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Q3 Barry Sheerman Lab
Business & Trade
Context

The question explores the potential of the hydrogen sector for small businesses and asks if the Small Business Council is considering this opportunity.

Question

Will the Minister ask the Small Business Council to wake up to the opportunities in the hydrogen sector, not only in terms of engineering but also infrastructure?

Answer from Kevin Hollinrake

We already have woken up to that opportunity. We support hydrogen initiatives such as the Humber hydrogen cluster and encourage support from Members of Parliament.

Answered
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Q4 Rushanara Ali Lab Bethnal Green and Stepney
Business & Trade
Context

The question highlights an alarming trend where more small businesses are closing compared to new openings, citing a 78 point drop in the UK small business index last December.

Question

What specifically will the Small Business Council do and what will Ministers do to halt this alarming trend?

Answer from Kevin Hollinrake

We have spoken at events together many times, and she hears the positive mood in those audiences. Access to finance has been key with £1 billion of Start Up loans made to 100,000 businesses. The Budget announced a rise in the VAT threshold and introduced the growth guarantee scheme.

Partly answered

Not addressed: Specific measures addressing the trend were not provided; general positivity was emphasized instead

How: General Optimism

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