Capital for Enterprise Ltd

Business, Innovation and Skills written statement – made on 11th September 2013.

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Photo of Michael Fallon Michael Fallon The Minister of State, Department for Business, Innovation and Skills , Minister of State, Department of Energy and Climate Change

Mark Prisk (then Minister of State for Business and Enterprise) presented a ministerial written statement to the House on 17 July 2012, Hansard, column 116WS, which announced the triennial review of Capital for Enterprise.

Since then the Secretary of State has announced the creation of a business bank which will bring together, review and rationalise existing Government schemes aimed at supporting access to finance for businesses under a single organisation, in order to increase access to and awareness of these interventions. The review was therefore put on hold until it was clear how Capital for Enterprise Ltd would fit with the business bank.

The strategy update “Building the Business Bank” which the Secretary of State published on the 21 March confirmed that the business bank organisation will bring together Capital for Enterprise Ltd, key policy teams in BIS and new expertise from the private sector.

Given that Capital for Enterprise Ltd will not continue in its current form, I have decided not to complete the triennial review of Capital for Enterprise Ltd.