Oral Answers to Questions

Debate between Jo Churchill and Caroline Dinenage

Thursday 27th October 2016 Commons Chamber

[Jo Churchill (Bury St Edmunds) (Con)]

T2. Reports this week indicate that female entrepreneurs, such as Clover Lewis of Clover Lewis Swimwear, struggle to access start-up capital. Male entrepreneurs often receive up to 90% of all available start-up funding, but the return on investment with female entrepreneurs is on average much better than with men. What steps is the Minister taking to stimulate lending to address that anomaly?

[The Parliamentary Under-Secretary of State for Women and Equalities (Caroline Dinenage)]

I am so pleased that my hon. Friend mentions Clover Lewis Swimwear. I have met Clover Lewis, who does outstanding work creating swimwear for women who have undergone mastectomy surgery. We are absolutely committed to supporting women to start and grow their own businesses, and I am proud that Britain has been named as one of the best places in Europe for female entrepreneurs. My hon. Friend will be as pleased as I am that 40% of the loans given out by the Government’s StartUp loans company since it was established have gone to women, providing funding to more than 15,500 women and totalling £87 million.