Oral Answers to Questions

Debate between Theresa Villiers and Kelly Tolhurst

Tuesday 30th April 2019 Commons Chamber

[Kelly Tolhurst]

The hon. Gentleman highlights specific differences within Scotland, but we are interested in making sure that young people are able to follow their dreams and aspirations whichever part of the country they happen to be in. We are announcing the young entrepreneurs review so that we can look at all the different barriers, including access to finance—something that the Government and I, as the small business Minister, take very seriously—and make sure that we create the right environment for our small businesses to start up, thrive and grow.

[Theresa Villiers (Chipping Barnet) (Con)]

2. What steps he is taking to support small businesses.

[Sir Henry Bellingham (North West Norfolk) (Con)]

10. What recent steps he 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, employing over 16 million people, and they make a collective contribution of over £2 trillion. We have provided nearly £5.9 billion of finance to over 82,000 small businesses across the UK. We have also just announced an additional £200 million for innovation for British business.

[Theresa Villiers]

What discussions has the Minister had with landlords running small businesses about the proposed abolition of section 21 notices? We all want to help renters, but we need to take care that we do not pass new laws that might actually make it harder for vulnerable people to get rented accommodation.

[Kelly Tolhurst]

I thank my right hon. Friend for her question. We want both to encourage good landlords to stay in the sector and to make sure that proposals do not impact on supply. The Ministry of Housing, Communities and Local Government will be consulting landlords and looking at similar changes in Scotland. However, I reassure her that we recognise that small landlords, or incidental landlords, may have different requirements and they will therefore be very much part of the consultation.

Oral Answers to Questions

Debate between Theresa Villiers and Kelly Tolhurst

Thursday 25th April 2019 Commons Chamber

[Theresa Villiers (Chipping Barnet) (Con)]

4. What steps she is taking to help women entrepreneurs grow their businesses.

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

Since 2012, 62,949 start-up loans worth £489.5 million have been made to business owners, and 39% of those loans went to female entrepreneurs. In response to the Rose review, an industry-led taskforce will look at driving greater investment in female entrepreneurs by finance providers. The Government are also establishing a new investing in women code, through which financial institutions will take steps to improve the allocation of funding to female entrepreneurs.

[Theresa Villiers]

It is worrying that the Rose review concluded that only one in three active entrepreneurs is a woman, so will the Minister take action to respond to the recommendations of the Rose review so that more women can turn their great business ideas into great businesses?

[Kelly Tolhurst]

I thank my right hon. Friend for highlighting that particular finding. It is our ambition to increase the number of female entrepreneurs by half by 2030. The new investing in women code will drive more funding for women and encourage more women to start businesses. Alison Rose is already taking several recommendations forward with the backing of industry. My right hon. Friend the Minister for Women and Equalities is bringing forward the Government’s strategy to address persistent gender economic barriers facing women across the country at every level.

Oral Answers to Questions

Debate between Theresa Villiers and Kelly Tolhurst

Thursday 15th November 2018 Commons Chamber

[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.