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

To ask the Secretary of State for Business, Energy and Industrial Strategy, what recent steps his Department has taken to support businesses in Stafford constituency.

We are working hard to support businesses and entrepreneurs across the UK to ensure they can access finance and wider support to grow and the right conditions are in place for companies to invest for the long-term.

Small businesses in Stoke and Staffordshire can access support through GOV.UK and the Business Support Helpline. The Stoke-on-Trent and Staffordshire Growth Hub also acts as the first port of call for local businesses seeking advice or support. Since its launch in May 2014, the Stoke and Staffordshire Growth Hub has engaged and supported 4340 businesses and it has helped 385 individuals to start up a new business.

Since November 2014, British Business Bank programmes have facilitated over £4.3m* to 87 businesses in the constituency of Stafford. This includes 54 Start-up Loans at a value of £415,957.

Stafford 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 (MEIF), which is a result of close collaboration between the British Business Bank, the Department for Business, Energy and Industrial Strategy, the Department for Communities and Local Government and 10 Midlands Local Enterprise Partnerships (LEPs). It 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, at the end of August.

*This does not include ENABLE funding data as this is not available at a constituency level.