Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, what plans the Government has to develop tax incentives and economic support to expand entrepreneurial opportunities for women in micro-businesses or who are self-employed.

The government supports women entrepreneurs, including those running micro-businesses, and has a number of tax incentives that they benefit from, including Entrepreneurs’ Relief and the Seed Enterprise Investment Scheme. The government has also supported women who are self-employed by raising the personal allowance to £11,850 in 2018-19, with a commitment to reach £12,500 by 2020-21. In 2018-19, compared to 2015-16, over 700,000 women will be taken out of income tax altogether and 13m women will see their income tax bill reduced.

We are working to ensure we have the right support for everyone, including women, to set up and grow a business.

As part of the Industrial Strategy, we are identifying ways to tackle barriers faced by female-led businesses in accessing venture capital through new behavioural research commissioned by the British Business Bank.

Start-Up Loans (SUL) provide funding and intensive support to new entrepreneurs. As at the end of October 2017, there were over 20,130 loans issued to women totalling over £132.5m. To date 39% of start-up loans have been issued to women.

Government has also supported and invested in the creation of a network of 38 Growth Hubs (one in each Local Enterprise Partnership area), providing businesses across England with tailored advice and support. The Business Support Helpline also provides information and guidance to people across England - 49% of users in the last year (2016-17) were women.