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

To ask the Secretary of State for Business, Energy and Industrial Strategy, what steps his Department is taking to provide (a) advice, (b) support and (c) services for small business owners in (i) Coventry North East constituency, (ii) Coventry, (iii) the West Midlands and (iv) England planning on developing their businesses during the covid-19 outbreak.

An unprecedented package of support for businesses has been in place since March 2020, including measures such as loans, grants, and tax deferrals to support businesses required to close or severely affected by restrictions put in place to tackle Covid-19.

The Spring Budget 2021 set out the next phase of the Government’s response, providing additional support worth £65 billion to help businesses get going again. This includes Restart grants and Recovery Loans to help businesses plan ahead and safely relaunch trading as restrictions are relaxed, extension of the furlough scheme and support for the self-employed. Extension of VAT reductions and business rates relief are also part of this package, whilst the Additional Restrictions Grant (ARG) continues to enable local authorities to put in place discretionary business support that suits their local area.

The Start Up Loan Scheme, part of the government-backed British Business Bank, was launched in 2012 and offers free mentoring and low-interest personal loans to help start or grow new business. Entrepreneurs in the UK can borrow up to £25,000 in their first 24 months of business, repaying over 5 years. In the financial year 2020/21 to the end of February, the programme has made 19 Start Up loans worth £264,500 in the Coventry North East constituency, and in the West Midlands has made 110 loans worth £964,353. In the UK, a total of 10,251 loans have been made worth £123,598,056 over the same period.

The Government’s new ‘Help to Grow’ scheme will help small businesses across the UK learn new skills, reach new customers and boost profits. Starting in June, small businesses will be able to access Help to Grow: Management, a 12 week-programme delivered by leading business schools across the UK. The programme will combine a practical curriculum, with 1:1 support from a business mentor, peer-learning sessions and an alumni network. In the Autumn, government will launch Help to Grow: Digital, a new online platform where businesses can access advice on software that could help them save time and money while running their businesses, and a voucher to discount software.

Businesses that have been unable to access support, or who are unsure about the support available, can contact their nearest Business Growth Hub for advice. The Government has established a network of 38 of these hubs, led by each Local Enterprise Partnership in England, where expert advisers can offer impartial tailored advice to firms of any size. Contact details are available at: www.lepnetwork.net/local-growth-hub-contacts/.

The Business Support Helpline offers free impartial advice to businesses across England (FREEPHONE 0800 998 1098).