Oral Answers to Questions

Debate between Nigel Adams and Vince Cable

Thursday 24th October 2013 Commons Chamber

[Vince Cable]

We estimate that something of the order of 7,000 start-up loans have been drawn down since the scheme’s launch in September 2012, a significant number of them in the hon. Gentleman’s constituency. To sustain it, we have made available an extra £34 million from September, to bring the total to £151 million.

[Nigel Adams]

Business creation is on the up and unemployment is down by almost 30% in Selby and Ainsty since the election. However, many small companies are struggling with crippling business rates. In some cases, rates are almost the cost of the rent they are paying. What can the Government do to encourage local councils to engage with small businesses to assist them with their rate costs?

[Vince Cable]

The hon. Gentleman is right that the trend is a positive one. Half a million small businesses currently get rate relief and a third of a million pay no rates at all. Under recent changes whereby local councils give discounts, as they are now encouraged to do, half of that will come from the Government.

Oral Answers to Questions

Debate between Nigel Adams and Vince Cable

Thursday 13th January 2011 Commons Chamber

[Nigel Adams (Selby and Ainsty) (Con)]

2. What plans he has for the future of his Department’s provision of business support.

[The Secretary of State for Business, Innovation and Skills (Vince Cable)]

The Department’s plans for supporting business are being developed in a growth review looking at all the barriers to private sector investment growth and job creation—in particular, access to finance, planning and regulation. I shall be specifically working to support business through the regional growth fund, establishing the green investment bank and launching technology and innovation centres.

[Nigel Adams]

In the early 1990s, when I set up my first business, I received a small weekly grant through the successful enterprise allowance scheme. It was only £20 a week—but in those days people could fill up their cars with fuel for £20 a week. It was enormously helpful in supporting the early stage of the business. Can the Secretary of State give me, and constituents of mine who are thinking of setting up a small business, any indication that the Government will introduce a similar scheme?

[Vince Cable]

I can give my hon. Friend that assurance: indeed, we have already done so. In October my colleague the Secretary of State for Work and Pensions launched a new enterprise scheme to help precisely the category of people that my hon. Friend describes. It will provide mentoring and funding of up to £2,000, including a weekly allowance and access to a start-up loan.