New Businesses: EU Grants and Loans

(asked on 8th September 2016) - View Source

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 plans to take to help ensure that start-up companies who receive funding from EU institutions continue to have access to similar levels of funding after the UK leaves the EU.

Answered by
Margot James Portrait
Margot James
This question was answered on 19th September 2016

The UK Government is committed to ensuring the UK continues to be a world leader in international research and innovation. My right hon. Friend Mr Chancellor of the Exchequer has committed that HM Treasury will underwrite all competitively bid for EU research funding that is applied for before departure. Future access to EU collaborative research will be subject to the negotiation.

The UK already has a wide number of measures in place to help start-ups. Start-up loans provide both finance and business advice with over £250 million loans drawn down to date. Advice on starting and growing businesses is available from the 39 growth hubs around the country and the national Business Support Helpline.

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