Asked by: Thérèse Coffey (Conservative - Suffolk Coastal)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, what steps her Department is taking to support small and medium-sized enterprises in Suffolk.
Answered by Kevin Hollinrake - Minister of State (Department for Business and Trade)
The Government provides extensive business support for small and medium enterprises (SMEs), with over 40 offers of support available to all business including those in Suffolk.
Businesses in Suffolk can access support through GOV.UK, the Business Support Service and network of Growth Hubs. Government-backed financial support is available from the British Business Bank, including the Growth Guarantee Scheme, which has been extended until the end of March 2026.
The Government set out policy actions in the Prompt Payment and Cash Flow which was published alongside the Autumn Statement in November 2023. These actions include extending Payment Performance Reporting Regulations with legislation being passed earlier this month, ensuring that large businesses are required to report their payment performance.
The Start Up Loans Company provides loans and pre- and post-loan business support and mentoring to new entrepreneurs. Since the programme started in 2012, 917 loans have been awarded to start ups in Suffolk totalling over £9 million.
The Government’s recently launched initiatives supporting business:
Asked by: Thérèse Coffey (Conservative - Suffolk Coastal)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, what steps her Department is taking to promote (a) international trade and (b) investment opportunities for businesses based in Suffolk.
Answered by Alan Mak - Minister of State (Department for Business and Trade) (jointly with the Cabinet Office)
The Department for Business and Trade works with local stakeholders to promote trade and investment opportunities. Businesses in Suffolk can access the Department's range of export support services through great.gov.uk. This includes online learning and information, the Export Academy, our network of International Trade Advisers, and our International Market Advisors in overseas regions. UK Export Finance also has a network of export finance managers and coverage includes Suffolk.
The Department works in partnership with other Government Departments and locally to attract potential investors and provide support for foreign investors wishing to invest in the area.
Asked by: Thérèse Coffey (Conservative - Suffolk Coastal)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, how many prosecutions Companies House has launched for giving false information in registration of a company in each year since 2019.
Answered by Kevin Hollinrake - Minister of State (Department for Business and Trade)
Companies House does not bring prosecutions under section 1112 of the Companies Act 2006 for a false statement offence but refer such potential cases to the Insolvency Service for investigation and prosecution.
The number of prosecutions commenced by the Insolvency Service for a false statement offence contrary to s1112 of the Companies Act 2006 in each year since 2019 is:
2019 | 0 |
2020 | 0 |
2021 | 1 |
2022 | 0 |
2023 | 0 |
2024 | 1 |
Asked by: Thérèse Coffey (Conservative - Suffolk Coastal)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, what steps her Department is taking to help increase business investment in Suffolk.
Answered by Alan Mak - Minister of State (Department for Business and Trade) (jointly with the Cabinet Office)
The Department for Business and Trade works with local stakeholders to promote investment opportunities in the region to potential overseas investors and provide support for foreign investors wishing to set up in the area. The Government works closely with clients to understand their requirements and to reduce any barriers which may inform the client’s decision to locate in the region.
The Government is also backing the Freeport East to create new jobs and attract new businesses in high growth sectors such as advanced manufacturing and engineering.
The Government supports a range of programmes dedicated to supporting small and medium businesses to grow. This includes free access to the Business Support Helpline, Help to Grow, Growth Hubs, UK Export Academy, International Trade Advisors, and the Export Digital Enquiry Service. Government funded support is also available through the British Business Bank.
Asked by: Thérèse Coffey (Conservative - Suffolk Coastal)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, how many Government funded start-up loans have been issued (a) in every year since 2012 and (b) in total.
Answered by Kevin Hollinrake - Minister of State (Department for Business and Trade)
As of January 2024, a total of 110,699 Start Up Loans have been issued since 2012 with an aggregate value of £1,075,873,213.
The attached table contains a breakdown of Start Up Loans issued by year, from 2012-13 to Jan 2024.
Year | Loans Made | Amount Lent |
2012-13 | 1884 | £ 9,578,673 |
2013-14 | 12647 | £ 70,146,440 |
2014-15 | 13543 | £ 66,902,431 |
2015-16 | 9191 | £ 64,961,014 |
2016-17 | 9263 | £ 89,618,969 |
2017-18 | 8521 | £ 104,723,856 |
2018-19 | 7896 | £ 83,258,440 |
2019-20 | 8532 | £ 95,572,650 |
2020-21 | 11318 | £ 137,286,554 |
2021-22 | 10372 | £ 130,745,218 |
2022-23 | 9536 | £ 119,952,292 |
2023-24 | 7996 | £ 103,126,676 |
|
|
|
Totals (2012-2024) | 110699 | £ 1,075,873,213 |