To ask the Secretary of State for Business, Innovation and Skills, what steps his Department is taking to support small and medium-sized businesses in Stafford constituency.
22 October 2014
Small businesses are the lifeblood of our economy and our small business owners have driven this economic recovery. Stafford has benefitted from a number of support schemes. The Start-Up Loan Scheme has provided business advice and 16 loans with a value of almost £60,000 to people starting a business. Since May 2010, 7 companies have benefitted from the Government’s Enterprise Finance Guarantee Scheme with a drawn down value of over £1 million.
We are committed to making Britain the best place in the world to start and grow a business, and are doing this in a number of ways:
- £10 billion of financing will be unlocked for smaller business over the next 5 years by our British Business Bank;
- Government grants of up to £3000 for better internet connectivity are available to small businesses;
- The Business Support Helpline is available to provide bespoke information and advice;
- Cuts to corporation tax from 28% to 21%; and
- £2,000 cut from the National Insurance bills of small firms from the new Employment Allowance.