§ Mr. FatchettTo ask the President of the Board of Trade how many firms in receipt of a grant under his Department's enterprise initiative scheme have gone into liquidation during the period covered by the grant; and if he will set out the total value of the relevant grants.
§ Mr. Leigh[holding answer 19 May 1993]: The DTI subsidy for assisted consultancy projects under the enterprise initiative is paid on project completion. Information on the liquidation of assisted companies is not collected.
§ Mr. FatchettTo ask the President of the Board of Trade what steps his Department takes to assess the financial viability of firms involved in his Department's enterprise initiative scheme; and if he will make a statement.
§ Mr. Leigh[holding answer 19 May 1993]: As part of the free business review carried out under the enterprise initiative consultancy scheme, enterprise counsellors must establish that the applicant is financially viable and has sufficient funds to finance its share of a subsidised consultancy project. This involves scrutiny of the applicant's audited accounts, management accounts, assets and liabilities.