Small Businesses: Cost of Living

Department for Business, Energy and Industrial Strategy written question – answered on 21st November 2022.

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Photo of Greg Knight Greg Knight Conservative, East Yorkshire

To ask the Secretary of State for Business, Energy and Industrial Strategy, how many SMEs in East Yorkshire constituency have received Government financial support during the cost of living crisis.

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

Businesses in East Yorkshire will have benefitted from the Government’s reversal of the National Insurance rise, which will save SMEs approximately £4,200 on average, cut fuel duty for 12 months and brought in the Energy Bill Relief Scheme, to protect small businesses from high energy costs over the winter. In addition, the Recovery Loan Scheme is available to SMEs across the UK. The government is also providing financial support for business through the Start Up loan scheme - 179 SMEs in East Yorkshire have received loans to the value of £1,629,934 as of October 2022.

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