Question to the Department for Business, Energy and Industrial Strategy:

To ask the Secretary of State for Business, Energy and Industrial Strategy, how many small and medium-sized enterprises in Telford constituency have received support under each business support scheme operated by his Department since 2010.

Our Industrial Strategy aims to make Britain the best place to start and grow a business, and a global draw for the most innovative companies. We are already doing a lot for small and medium sized (SMEs) enterprises in Telford.

Over 14,000 businesses have been supported and 239 people have had help to start a new business by The Marches Growth Hub which provides support to local SMEs in the area. Growth Hubs help simplify the business support landscape providing joined up access to the full range of local and national support programmes (public and private).

Since November 2014, British Business Bank programmes have facilitated over £70m to 131 businesses in the constituency of Telford.* This includes 63 Start Up loans at a value of over £420k. Telford constituency is also part of the Midlands Engine. A key part of the Government’s strategy for fuelling growth in the region is the £250m Midlands Engine Investment Fund, which aims to transform the finance landscape for smaller businesses in the Midlands, accelerate economic growth and promote job creation. The Fund launched its first wave, £120m of Debt and Small Business funds, in August 2017.**

Since 2010-11, Innovate UK has also provided over £345,000 of funding to 8 businesses in the Telford constituency so that they can take forward their ideas and make them commercially viable.

*British Business Bank received State Aid clearance in November 2014, figures show flow of finance facilitated from November 2014 date to the end of September 2017 only

** constituency level data on MEIF is not available