Commons Sense

House of Commons · Ministers' Questions

Encouraging Entrepreneurship

Thursday 30 January 2025 · 2 questions

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

Read the full transcript on Parliament.uk

At a glance

Answered 0 Partly answered 2 Not answered 0

Key points

  • The Government has allocated an extra 250 million to the British Business Bank to help entrepreneurs access finance.
  • The Invest in Women taskforce is being backed to increase the number of female-powered businesses.
  • The Government aims to increase the proportion of investment going to all-female founding teams.

Topics (select to filter)

Questions & Answers

Q1 Lewis Cocking Con Broxbourne
Economy Employment Business & Trade
Context

The question follows a general inquiry about steps to encourage entrepreneurship. It references the hon. Member's constituency of Broxbourne and seeks specific actions post-election.

Question

Economies grow and jobs are created when individuals are able to take risks and invest in their ideas, so what have the Government done specifically since the general election to help more people in my constituency of Broxbourne become entrepreneurs?

Answer from The Parliamentary Under-Secretary of State for Business and Trade (Gareth Thomas)

One thing we need to continue to do is make it easier for entrepreneurs in the hon. Member’s constituency and across the UK to access the finance that they need to set up their business. We have given an extra £250 million to the British Business Bank, which will help to ensure that more people have access to finance across the country, including in his constituency.

Partly answered

Not addressed: The response mentions a funding increase but does not specify additional measures for Broxbourne specifically beyond financial support generally.

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Q2 Melanie Onn Lab Great Grimsby and Cleethorpes
Business & Trade Women & Equalities
Context

The question addresses the importance of supporting female business owners in Great Grimsby and Cleethorpes, highlighting that they drive small businesses in the constituency.

Question

What specific support is being provided for women entrepreneurs? They are the driving force behind small businesses in my Great Grimsby and Cleethorpes constituency, and deserve all the support that they can get.

Answer from The Parliamentary Under-Secretary of State for Business and Trade (Gareth Thomas)

I strongly support my hon. Friend’s substantive point. We are backing the Invest in Women taskforce, which was set up to increase the number of female-powered businesses. We are looking at how to increase significantly the proportion of investment going to all-female founding teams; it has been stuck at just 2% of equity investment in the last decade.

Partly answered

Not addressed: The response acknowledges the issue and mentions initiatives like Invest in Women but does not provide concrete measures or commitments beyond ongoing support.

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