Family Businesses

Business, Enterprise and Regulatory Reform written question – answered on 15th July 2008.

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Photo of Lorely Burt Lorely Burt Shadow Minister (Business, Innovation and Skills), Chair of the Liberal Democrat Parliamentary Party

To ask the Secretary of State for Business, Enterprise and Regulatory Reform what sources of advice and financial support are available to family businesses.

Photo of Pat McFadden Pat McFadden Minister of State (Department for Business, Enterprise and Regulatory Reform) (Employment Relations and Postal Affairs), Member, Labour Party National Executive Committee

The Government support a suite of national instruments to help businesses and SMEs to start up and grow. At the national level, the Small Firms Loan Guarantee exists to help lending to SMEs with viable business propositions that lack the necessary collateral with which to secure a commercial loan. Enterprise Capital Funds invest a mixture of public and private money into small growth businesses seeking up to £2 million in risk capital. Regions, via RDAs, also offer sources of finance on a regional and sub-regional basis, including loan and equity programmes, and support to prepare businesses with skills they need to attract finance. Information on national and regional programmes, and advice and support on wider issues is available on Business Link's website:

www.busineslink.gov.uk and via their helpline on 0845 600 9006.

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