HC Deb 22 April 2002 vol 384 c93W
Mr. Cox

To ask the Chancellor of the Exchequer if he will make a statement on the economic prospects for small businesses within the Greater London area. [50589]

Mr. Boateng

In terms of business creation, the Greater London area continues to out-perform other UK regions. Recent figures show that the number of VAT registrations in London per 10,000 residents is 65 compared with a UK average of 39. However, as in all regions, the level of small business activity varies markedly across Greater London.

Small firms in London have access to a range of national and local policies and programmes designed to support new and small businesses. These include financial support (through schemes such as the Small Firms' Loan Guarantee Scheme) and business advice and guidance. The London Regional Venture Capital Fund will be up-and-running shortly provided £50 million of investment for small firms with growth potential.