Business: Females

Department for Business, Energy and Industrial Strategy written question – answered on 28th September 2020.

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Photo of Seema Malhotra Seema Malhotra Shadow Minister (Work and Pensions) (Employment)

To ask the Secretary of State for Business, Energy and Industrial Strategy, what support his Department is providing to help (a) women business owners grow their business online and (b) women wanting to start their own business in Feltham and Heston constituency.

Photo of Paul Scully Paul Scully Parliamentary Under-Secretary (Department for Business, Energy and Industrial Strategy), Minister of State (London)

Support is available to all business owners wishing to grow their businesses online through the Growth Hub network and programmes such as Be the Business. Advice and support on adapting to and recovering from the disruption caused by Coronavirus, including through digital means, is also available through the Recovery Advice for Business Scheme, hosted on the Enterprise Nation website and supported by BEIS.

The Start-Up Loans Company provides funding and intensive support to new entrepreneurs. Since 2012 40% of Start Up Loans have gone to women, worth well over £210m. Of these, 12 start-up loans valued at £160,150 have been provided to businesses in Feltham.

More widely, there are now 1.2 million female-led small and medium-sized businesses in the UK. This accounts for 22% of SMEs in the UK. Innovate UK have launched the Women in Innovation Awards to find and support the UK’s most promising female innovators to develop their ideas and scale up their businesses. The 2020/21 Awards competition is currently open and closes on 14th October 2020. 10 female innovators will be awarded with a cash boost of £50,000 each, as well as receive vital business support to help them develop and grow their business, including coaching and mentoring.

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