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Business: Government Assistance

Volume 488: debated on Tuesday 24 February 2009

To ask the Minister of State, Department for Business, Enterprise and Regulatory Reform what assistance his Department provides to businesses to assist them with export activities. (253322)

UK Trade and Investment is the joint BERR/FCO organisation that helps UK-based companies succeed in the global economy and assists overseas companies to bring high quality investment to the UK.

UKTI's trade development services for UK-based companies help them to develop their international trade potential, and to access international markets. Further details on these services can be found in UKTI's Autumn Performance Report 2008 (Cm 7520) and on UKTI's website

www.uktradeinvest.gov.uk.

To ask the Minister of State, Department for Business, Enterprise and Regulatory Reform what assessment his Department has made of the proposal from the National Endowment for Science, Technology and the Arts for a fund to support early stage companies. (255645)

I have been asked to reply.

The Government are aware of the difficulties small companies are facing in raising venture capital funding and the risk that this poses to the UK's economic future. We are currently working with the venture capital sector, businesses and investors to discuss possible solutions. This includes discussions with NESTA about their proposal, but no decisions have yet been made.