Oral Answers to Questions

Theresa Villiers Excerpts

Thursday 15th November 2018 Commons Chamber

[Victoria Atkins]

As I have said, a great deal of work is going on, and I had a meeting earlier this year on exactly this point and look forward in due course to working with my colleagues in the Department for Business, Energy and Industrial Strategy on how we can close these gaps as well.

[Theresa Villiers (Chipping Barnet) (Con)]

7. What steps she is taking to encourage more women to start their own businesses.

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

The Government-owned British Business Bank provides start-up loans for new entrepreneurs, and women account for 39% of recipients. The bank is also conducting a review into specific barriers female-led businesses face in accessing venture capital. All entrepreneurs in England can access advice and support from growth hubs and business support helplines, and 45% of the helpline users were women in 2017-18.

[Theresa Villiers]

Will my hon. Friend welcome the work of the entrepreneur Alison Cork in setting up the Make It Your Business network to support women who want to start their own businesses, including a branch in my constituency, Chipping Barnet?

[Kelly Tolhurst]

I welcome such initiatives that encourage and support women to start their own businesses, and I also appreciate the work of my right hon. Friend’s constituent Alison Cork. Connecting people and building networks is an important part of supporting entrepreneurs. That is why the Chancellor announced in the autumn Budget another £20 million to strengthen local networks.