§ Mr. Richard Pageasked the Secretary of State for Trade and Industry if he will list the measures taken by his Department to help small businesses since May 1979.
§ Mr. TrippierSince May 1979 my Department, including its predecessors the Departments of Trade and Industry, have introduced a number of important new 321W initiatives of benefit to small firms—the pilot loan guarantee scheme, the two small engineering firms investment schemes, and the small firms technical inquiry service. We have also increased the resources of the small firms service, including the opening of a new regional centre; reduced the requirements imposed by companies legislation on small companies; stimulated take-up of loans at attractive rates from the European Investment Bank and the European Coal and Steel Community by providing exchange risk cover; and provided extra help for small exporters.
The British technology group, which is sponsored by this Department, introduced two new schemes to make finance available to small businesses. The English Industrial Estates Corporation has used funds from this Department to build almost 1,900 small industrial and commercial units in the English assisted areas.
Small firms have benefited considerably from a number of schemes and services introduced by my Department since May 1979 to help small and larger businesses. The range of assistance available to small firms was widely promoted through a major awareness campaign in the spring of 1983.