Oral Answers to Questions

Debate between Katherine Fletcher and Kelly Tolhurst

Tuesday 21st January 2020 Commons Chamber

[Katherine Fletcher (South Ribble) (Con)]

21. What recent steps her Department has taken to support small businesses.

[The Parliamentary Under-Secretary of State for Business, Energy and Industrial Strategy (Kelly Tolhurst)]

Small businesses are the backbone of our economy, and the British Business Bank is supporting over £7 billion of finance to over 91,000 small and medium-size enterprises. Through our business productivity review, published in November, we set out the steps we are taking to boost small business productivity, including: funding a small business leadership programme, strengthening local networks and expanding the knowledge transfer partnership programme.

--- Later in debate ---

[Kelly Tolhurst]

I thank my hon. Friend for his question and welcome him to his place. I am really pleased that, so quickly into being an MP, he is out talking to as many businesses as he can. Clearly, access to finance is a key priority for many businesses. I have already outlined the applications to start-up loans. One interesting element is that applicants for start-up loans are able to have a mentor. He will also know that we have taken action by offering small retailers a third off business rates for two years, starting in April. We are committed to increasing that to 50%.

[Katherine Fletcher]

Leyland has an above-average five-year success rate for small businesses, and a diverse and growing business base. What is the Minister doing to help and support smaller businesses to start to trade with the world and to identify export opportunities?

[Kelly Tolhurst]

I thank my hon. Friend for her question and welcome her to her place. I know she has a particular interest in this area, with her experience before coming to the House. The Government are committed to helping small businesses become exporters. Over 580,000 trade internationally already. The Department for International Trade supports that via a range of projects. We want all SMEs who are able to, to take that plunge. My Department will continue to work across Government and with SMEs to identify barriers to ensure we can address them and make it easier for all SMEs to trade internationally.