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New Businesses: Government Assistance

Business, Innovation and Skills written question – answered on 11th September 2013.

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Photo of Chuka Umunna Chuka Umunna Shadow Secretary of State for Business, Innovation and Skills

To ask the Secretary of State for Business, Innovation and Skills how many applications have been made in total under the Start-Up Loans scheme to date; how many such applications (a) have been successful, (b) are currently being assessed, (c) have been rejected and (d) have drawn down funds; and what the breakdown is in each category by (i) gender of applicant, (ii) age of applicant, (iii) region and (iv) Start-Up Loans delivery partner.

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

34,874 people have formally registered an interest in Start-Up Loans and 7,628 loan offers have been made. Since decline data has been collected (May 2013), 368 loans have been formally declined. A further 1,831 applicants have withdrawn their application. 2,929 applications are currently being assessed.

Full personal information is verified and submitted by partners at point of loan drawdown. Data on gender, age and location is not currently available for declined applications. However, data is available for the 6,501 loans drawn to date, distributed as follows:

36% Female; 64% Male;

38% 18 to 24 years; 62% 25+ years; and

43% BAME (self-report data).

By region, these are split:

  Percentage
East 6
EM 6
Ldn 38
NE 5
NW 16
SE 8
SW 5
WM 7
Y&H 9

By delivery partner, these are split:

  Number
Biz Britain 98
Bricks and Bread 33
Bright Ideas Trust 43
Brightside Trust 84
Business Finance Solutions 439
Business Support and Development 124
Cloudspeed/f6s 62
CDFA 356
Dreamstake 21
East London Small Business Centre 80
Elevation Networks 269
Enterprise Lending East Midlands 113
Enterprise4All 29
Entrepreneur Country 5
Exodus 5
Fashion Angel 33
Foundation East 68
GLE 112
Hull Business Development Fund 77
Hyndburn Enterprise Trust 41
Kaleidoscope 31
Leeds City Credit Union 10
Let's do Business Group 156
Norfolk and Waveney Enterprise Services 101
Original Upstarts 9
Positive Inclusions 242
Printing.com 24
Prospects 10
Riverside Credit Union 86
Rockstar Youth 1,070
School for Start Ups 1,039
SFEDI 47
Sheffield City Council 21
South West Investment Group 116
Spring to Action 14
Start-Up Direct 201
Start-Up Loans London 281
The Prince's Trust 560
Train E Traid E 22
Transmit Start-Ups 57
University of Arts 15
Virgin Unite/PNE 79
WSX Enterprise 53
Yorkshire Coast Enterprise 23
Young Britain 123
Youth Enterprise 19

Does this answer the above question?

Yes0 people think so

No0 people think not

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