Asked by: Lord Taylor of Warwick (Non-affiliated - Life peer)
Question to the Department for Business and Trade:
To ask His Majesty's Government what plans they have, if any, to encourage more women into business, entrepreneurship and the labour market; and what support they will provide to facilitate that.
Answered by Earl of Minto - Minister of State (Ministry of Defence)
The Government has set an ambition to increase the number of female entrepreneurs by half by 2030, equivalent to 600,000 new entrepreneurs. The Department is achieving this target by delivering recommendations in the Alison Rose Review, which found that if women started and scaled businesses at the same rate as men, this could add £250 billion to the UK economy. Over 150,000 new all-women led companies were founded in 2022 – more than ever before, and a fifth of new incorporations (20.5%) last year were all-female led, a figure that has risen from 16% in 2018. Since 2012, 40% of Start Up Loans have gone to women, worth over £355m (As of March 2023).
The Review made recommendations on access to finance; banking products; access to expertise; mentoring and networks; entrepreneurship in schools and available resources for entrepreneurs. The Government is delivering on these through initiatives such as the Investing in Women Code and Angel Investment Taskforce.
Asked by: Helen Hayes (Labour - Dulwich and West Norwood)
Question to the Department for Business, Energy and Industrial Strategy:
To ask the Secretary of State for Business, Energy and Industrial Strategy, whether he has had recent discussions with the Minister for Women and Equalities on improving accessibility to entrepreneurship and business ownership for people with protected characteristics in Dulwich and West Norwood constituency.
Answered by Kevin Hollinrake - Minister of State (Department for Business and Trade)
The Government is fully committed to supporting businesses and creating the best conditions for enterprise so that everyone, whatever their background, has the means and know-how to start and grow a business. <br/> We are supporting early-stage entrepreneurs from all backgrounds through the Start-Up Loans Company which provides funding and intensive support to new entrepreneurs. Since 2012, 40% of Start Up Loans have gone to women, worth over £341m and 20% of loans worth 183m have gone to Black, Asian, and Ethnic-minority business (as at October 2022). 411 SMEs in Dulwich and West Norwood have received loans to the value of £3,364,909 as of November 2022.
Asked by: Matt Western (Labour - Warwick and Leamington)
Question to the Department for Business, Energy and Industrial Strategy:
To ask the Secretary of State for Business, Energy and Industrial Strategy, whether he has had recent discussions with the Minister for Women and Equalities on taking steps to improve accessibility to entrepreneurship and business ownership for people with protected characteristics in Warwick and Leamington constituency.
Answered by Kevin Hollinrake - Minister of State (Department for Business and Trade)
The Government is fully committed to supporting businesses and creating the best conditions for enterprise so that everyone, whatever their background, has the means and know-how to start and grow a business.
We are supporting early-stage entrepreneurs from all backgrounds through the Start-Up Loans Company which provides funding and intensive support to new entrepreneurs.
Since 2012, 40% of Start Up Loans have gone to women, worth over £344m and 20% of loans worth 187m have gone to Black, Asian, and Ethnic-minority businesses. 142 SMEs in Warwick and Leamington have received Start Up Loans to the value of £1,487,362 as of November 2022.
Asked by: Vicky Foxcroft (Labour - Lewisham, Deptford)
Question to the Department for Business, Energy and Industrial Strategy:
To ask the Secretary of State for Business, Energy and Industrial Strategy, whether he has had recent discussions with the Minister for Women and Equalities on potential steps to help improve accessibility to (a) entrepreneurship and (b) business ownership for people with protected characteristics in Lewisham, Deptford constituency.
Answered by Kevin Hollinrake - Minister of State (Department for Business and Trade)
The Government is fully committed to supporting businesses and creating the best conditions for enterprise so that everyone, whatever their background, has the means and know how to start and grow a business.
We are supporting early-stage entrepreneurs from all backgrounds through the Start-Up Loans Company which provides funding and intensive support to new entrepreneurs.
Since 2012, 40% of Start Up Loans have gone to women, worth over £344m and 20% of loans worth 187m have gone to Black, Asian, and Ethnic-minority businesses. 501 SMEs in Lewisham, Deptford have received Start Up Loans to the value of £3,595,932 as of November 2022.
Asked by: Kate Osamor (Independent - Edmonton)
Question to the Department for Business, Energy and Industrial Strategy:
To ask the Secretary of State for Business, Energy and Industrial Strategy, whether he has had recent discussions with the Minister for Women and Equalities on taking steps to improve accessibility to entrepreneurship and business ownership for people with protected characteristics in Edmonton constituency.
Answered by Kevin Hollinrake - Minister of State (Department for Business and Trade)
The Government is fully committed to supporting businesses and creating the best conditions for enterprise so that everyone, whatever their background, has the means and know-how to start and grow a business.
We are supporting early-stage entrepreneurs from all backgrounds through the Start-Up Loans Company which provides funding and intensive support to new entrepreneurs.
Since 2012, 40% of Start Up Loans have gone to women, worth over £344m and 20% of loans worth 187m have gone to Black, Asian, and Ethnic-minority businesses.
332 SMEs in Edmonton have received Start Up Loans to the value of £2,407,357 as of November 2022.
Asked by: Charlotte Nichols (Labour - Warrington North)
Question to the Department for Business, Energy and Industrial Strategy:
To ask the Secretary of State for Business, Energy and Industrial Strategy, whether he has had recent discussions with the Minister for Women and Equalities on taking steps to improve accessibility to entrepreneurship and business ownership for people with protected characteristics in Warrington North constituency.
Answered by Kevin Hollinrake - Minister of State (Department for Business and Trade)
The Government is fully committed to supporting businesses and creating the best conditions for enterprise so that everyone, whatever their background, has the means and know-how to start and grow a business.
We are supporting early-stage entrepreneurs from all backgrounds through the Start-Up Loans Company which provides funding and intensive support to new entrepreneurs.
Since 2012, 40% of Start Up Loans have gone to women, worth over £344m and 20% of loans worth 187m have gone to Black, Asian, and Ethnic-minority businesses.
142 SMEs in Warrington North have received Start Up Loans to the value of £1,356,272 as of November 2022.
Asked by: Preet Kaur Gill (Labour (Co-op) - Birmingham, Edgbaston)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment he has made of the contribution of the co-operative sector to the UK economy.
Answered by Andrew Griffith - Minister of State (Department for Science, Innovation and Technology)
The Government is committed to having a thriving co-operatives sector and creating a modern and supportive business environment in the UK. The Government acknowledges the vital contribution co-operatives make to the economy, serving local communities up and down the UK. For instance, the Co-op Economy Report 2021 conducted by the trade body Co-operatives UK found that co-operatives contributed £39.7 billion to the UK economy in 2021, up £1.1 billion from 2020.
At Budget 2021, the Government announced the £150m Community Ownership Fund. This allows community groups to bid for up to £250,000 matched-funding to help them buy or take over local community assets at risk of being lost and run them as community-owned businesses, supporting co-operative entrepreneurship. To date, 71 projects across the UK have benefitted from the fund.
Most recently, the Government is supporting a Private Members' Bill on Co-operatives, Mutual Insurers, and Friendly Societies, which will grant HM Treasury the power to bring forward regulations to give those mutuals further flexibility in determining for themselves the best strategies for their business regarding their surplus capital.
Furthermore, the Government also aims to continue to develop a modern and supportive business environment to set co-operatives and mutuals up for success. As part of this, the Government is currently exploring options for reviewing key pieces of legislation underpinning the co-operatives and mutuals sectors.
Asked by: Preet Kaur Gill (Labour (Co-op) - Birmingham, Edgbaston)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps he is taking to support the co-operative sector across the UK.
Answered by Andrew Griffith - Minister of State (Department for Science, Innovation and Technology)
The Government is committed to having a thriving co-operatives sector and creating a modern and supportive business environment in the UK. The Government acknowledges the vital contribution co-operatives make to the economy, serving local communities up and down the UK. For instance, the Co-op Economy Report 2021 conducted by the trade body Co-operatives UK found that co-operatives contributed £39.7 billion to the UK economy in 2021, up £1.1 billion from 2020.
At Budget 2021, the Government announced the £150m Community Ownership Fund. This allows community groups to bid for up to £250,000 matched-funding to help them buy or take over local community assets at risk of being lost and run them as community-owned businesses, supporting co-operative entrepreneurship. To date, 71 projects across the UK have benefitted from the fund.
Most recently, the Government is supporting a Private Members' Bill on Co-operatives, Mutual Insurers, and Friendly Societies, which will grant HM Treasury the power to bring forward regulations to give those mutuals further flexibility in determining for themselves the best strategies for their business regarding their surplus capital.
Furthermore, the Government also aims to continue to develop a modern and supportive business environment to set co-operatives and mutuals up for success. As part of this, the Government is currently exploring options for reviewing key pieces of legislation underpinning the co-operatives and mutuals sectors.
Asked by: Preet Kaur Gill (Labour (Co-op) - Birmingham, Edgbaston)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps he is taking to increase co-operative and employee ownership of business.
Answered by Andrew Griffith - Minister of State (Department for Science, Innovation and Technology)
The Government is committed to having a thriving co-operatives sector and creating a modern and supportive business environment in the UK. The Government acknowledges the vital contribution co-operatives make to the economy, serving local communities up and down the UK. For instance, the Co-op Economy Report 2021 conducted by the trade body Co-operatives UK found that co-operatives contributed £39.7 billion to the UK economy in 2021, up £1.1 billion from 2020.
At Budget 2021, the Government announced the £150m Community Ownership Fund. This allows community groups to bid for up to £250,000 matched-funding to help them buy or take over local community assets at risk of being lost and run them as community-owned businesses, supporting co-operative entrepreneurship. To date, 71 projects across the UK have benefitted from the fund.
Most recently, the Government is supporting a Private Members' Bill on Co-operatives, Mutual Insurers, and Friendly Societies, which will grant HM Treasury the power to bring forward regulations to give those mutuals further flexibility in determining for themselves the best strategies for their business regarding their surplus capital.
Furthermore, the Government also aims to continue to develop a modern and supportive business environment to set co-operatives and mutuals up for success. As part of this, the Government is currently exploring options for reviewing key pieces of legislation underpinning the co-operatives and mutuals sectors.
Asked by: Lord Taylor of Warwick (Non-affiliated - Life peer)
Question to the Department for Digital, Culture, Media & Sport:
To ask His Majesty's Government what plans they have to develop community enterprises and entrepreneurship that are based around (1) local, and (2) circular, economies within town centres.
Answered by Lord Parkinson of Whitley Bay - Parliamentary Under Secretary of State (Department for Culture, Media and Sport)
His Majesty’s Government recognises the positive contribution of social and community enterprises to society and the economy, including their vital role supporting local areas.
DCMS has launched the £4.1 million Social Enterprise Boost Fund to provide targeted support for early-stage social enterprises in disadvantaged places. This new fund will provide capacity-building such as business support, training, networking, one-to-one support and peer learning, and includes £1.5 million of grants for entrepreneurs to kick-start their social enterprises.
In addition to the Social Enterprise Boost Fund, DCMS supports the sector through the £900,000 Voluntary, Community and Social Enterprise Contract Readiness Fund, developed to increase social and community enterprise participation in public service delivery.
BEIS provides support through The Start Up Loans Company, a subsidiary of the British Business Bank, providing loans between £500 and £25,000 and pre- and post-application support to new entrepreneurs across the UK, including a year of free business mentoring for successful applicants.