New Enterprise Allowance

Work and Pensions written question – answered on 25th June 2014.

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Photo of Stephen Timms Stephen Timms Shadow Minister (Work and Pensions)

To ask the Secretary of State for Work and Pensions how many start up loans have been approved by his Department for participants on the new enterprise allowance scheme in each year since that scheme began.

Photo of Esther McVey Esther McVey The Minister of State, Department for Work and Pensions

Following a trailblazer started in January 2011, new enterprise allowance was launched in April 2011 creating 46,000 new businesses between April 2011 and March 2014.

Table 1: Number of loans that have been made on behalf of DWP under the new enterprise allowance scheme
Year (January-December) Number of loans
2011 910
2012 5,140
2013 7,711
2014 472
Table 2: Number of new enterprise allowance loans that have been made since October 2013 under the Start Up Loans scheme administered by BIS
Year (January-December) Number of loans
2013 158
2014 1,805

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