§ 17. Mr. SteenTo ask the Secretary of State for Trade and Industry how many rules and regulations have been repealed since May 1997 by his Department to assist small businesses. [100543]
§ Ms HewittBetween May 1997 and October 1999 my Department made 25 regulations that reduced costs on business, including small business.
We have taken many other actions to assist small businesses. For example, we have introduced legislation on late payment, we are setting up the Small Business Service, and we are consulting on proposals to raise the thresholds below which small companies are exempt from requirements to file full accounts and to have those accounts audited.
§ 31. Mr. DobbinTo ask the Secretary of State for Trade and Industry what plans he has to encourage technical innovation in small businesses. [100560]
§ Ms HewittAs indicated in the consultation document, "The Small Business Service—A Public Consultation" (URN 99/815), I intend to improve the coherence and customer-focus of my Department's support for small businesses by making most such support accessible through the Small Business Service. In addition, I have already announced that the Smart scheme has been610W expanded to a commitment of over £100 million over the period 1999–2000 to 2001–02 and its scope enlarged so that now even more small businesses will benefit from cash support for technology development and acquisition. The new Enterprise Fund will provide regional and high-tech venture capital funds for start-ups and small companies with growth potential. Also, my Department's funding for the TCS scheme is being doubled and we are creating a national network of Faraday Partnerships designed to support knowledge transfer to small businesses in particular.