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Small Businesses: Stafford

Question for Department for Business, Innovation and Skills

UIN 210227, tabled on 13 October 2014

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.

Answered on

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.

Answered by

Department for Business, Innovation and Skills