Question

To ask the Secretary of State for Business, Innovation and Skills, what recent steps his Department is taking to support businesses in Stafford constituency.

I refer my Hon. Friend to the answer I gave on 22 October 2014 to Question UIN 210227.

The primary support for business in Stafford and elsewhere is our long term economic plan which is delivering jobs, growth and low inflation.

16 start up loans have been made available in Stafford and 1,000 Apprenticeships in the past year.

My Hon. Friend may also wish to note that in the Stafford constituency there is one Round 1 Regional Growth Fund project with a grant of £4 million leveraging £57 million of private sector investment and creating or safeguarding 1,600 jobs. The grant will help the company undertake research and development for the creation of High Voltage Direct Current power transmission products, including the installation of equipment at a new engineering centre of excellence owned and run by the company in Stafford. It will create 200 new jobs and safeguard 1,400 existing jobs.

Businesses can access support via two local programmes that cover the Stafford constituency. These are run by the Local Enterprise Partnership (LEP) and the Staffordshire Chamber of Commerce. In addition to the above there are a number of national Regional Growth Fund programmes which companies in Stafford can apply to.

Stoke and Staffordshire LEP area is one of 15 Wave 2 Cities who are receiving £6.4m Government funding to establish growth hubs in 2014-15, from a £32m Regional Growth Fund programme managed by Lancaster University which also includes local business support. Growth hubs are intended to raise awareness and take up of business support, impact of business support, simplify the local business support landscape, eliminate duplication and improve the impact of business support, helping to increase private sector growth.