§ Brian CotterTo ask the Secretary of State for Trade and Industry what Government sponsored financial assistance is available to those wishing to start an enterprise within the retail sector. [64930]
§ Nigel GriffithsThe SBS operates a number of programmes aimed at helping small businesses in all sectors (including start-ups) to obtain finance. These include: Regional Venture Capital Funds; the Phoenix Fund; and the soon to be launched Early Growth Funding programme.
In addition, the SBS has been providing advisory support to start-up businesses identified with the potential for high growth. Since October 1999, some 8,500 pre and early start businesses have received support from Business Link Operators to assist them in reaching their high growth potential.
The SBS is currently consulting across Government and with the business support organisations in the private and public sectors, on a comprehensive strategy for helping people to start a business. The SBS Consultation document of 6 May sets out the issues involved and invites proposals for how to address them. A key theme is the need for resources to be targeted to ensure high quality help is available to all who seek it. Following the consultation exercise in July, an action plan will be published in the Autumn to detail the steps that the Government and key stakeholders will take to help more people to start and grow a business.