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New Businesses: Stafford

Volume 461: debated on Thursday 21 June 2007

To ask the Secretary of State for Trade and Industry how many new business start-ups there were in Stafford constituency in each of the last three years; and what estimate he has made of the likely start-up rate in the next three years. (122236)

The figures in the following table reflect the number of business start up activity in Stafford assisted by Business Link funding, they are:

New business starts

2005-06

150

2004-05

125

2003-04

110

From April this year the five existing Business Link services have been replaced by a single, regionally managed and locally delivered service. As a result there will be no dedicated/targeted services for Stafford/Staffordshire as we have now set-up a regionally wide consistent service.

Over the same period, Advantage West Midlands (AWM) through its business creation activity has assisted:

Business creation1

2005-06

1,650

2004-05

225

2003-04

864

1 Businesses created and demonstrating growth after 12 months and businesses attracted to the region.

Disaggregated figures are unavailable on a sub regional basis.

In the current FY 2006-07 AWM, has assisted 1,293 business start ups from a forecast target range of 1,232-1,848. For FY 2007-08 the target range for new business creation is 1,264-1,896.

Forecast estimates over the next two financial years (2008-09, 2009-10) on a sub regional or on a regional basis is not available. The outcome of the comprehensive spending review 2007 will determine how regional development agencies corporate plans, explains what it plans to deliver in return for the resources allocated to it, are being developed and it is difficult at this stage to provide forecasts.