Small Businesses: West Midlands

Department for Business, Energy and Industrial Strategy written question – answered on 11th July 2017.

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Photo of Jim Cunningham Jim Cunningham Labour, Coventry South

To ask the Secretary of State for Business, Energy and Industrial Strategy, what steps he is taking to support small business growth in (a) the West Midlands and (b) Coventry.

Photo of Margot James Margot James Parliamentary Under-Secretary (Department for Business, Energy and Industrial Strategy)

Small businesses are vital to our economy and so it is important we do all we can to make the UK a great place to start and grow a business.

Government has actively supported and invested in the creation of a network of Growth Hubs to provide businesses with tailored advice and support at the local level.

In the West Midlands, including Coventry, this is delivered by six Local Enterprise Partnership led Growth Hubs. The Business Support helpline also provides information and guidance over the phone, via email, webchat and social media.

To stimulate innovation and growth in the region, Innovate UK in 2016-17 committed almost £36.1m to 110 projects for SMEs based in the West Midlands.

In addition, the soon to be launched Midlands Engine Investment Fund, aims to boost the region’s economy and support the growth ambitions of its smaller businesses. It will facilitate investment of over £250 million across the region to help SMEs to achieve their growth ambitions, revitalise local economies and create jobs.

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