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Business: Government Assistance

Volume 507: debated on Tuesday 16 March 2010

To ask the Minister of State, Department for Business, Innovation and Skills how many small businesses in each constituency in the East of England have applied for financial assistance under the (a) Enterprise Finance Guarantee and (b) Capital Enterprise scheme since inception; and how many such applications were granted. (317528)

Under the Enterprise Finance Guarantee, as of 10 February, 742 businesses in the East of England region have drawn down loans totalling £66.82 million. The figures for each individual constituency in the East of England region will be deposited in the Library of the House. Businesses may apply for a loan from any one of the participating lenders who will assess which form of lending, including the Enterprise Finance Guarantee, is most appropriate. We do not hold figures for those businesses which are instead offered a normal commercial loan, or are rejected for failing to meet the lender’s commercial criteria.

With respect to the Capital for Enterprise Fund equity scheme, CfEF received 57 inquiries from businesses in the East of England seeking investment to the value of £55.9 million. Thus far, although no businesses have received investment, two businesses have been offered investment totalling £3.3 million. Inquiries from eight businesses are being considered subject to further information to be supplied by the applicant. The remaining 47 inquiries have been rejected or withdrawn. I am not providing a breakdown by parliamentary constituency or local authority as this could make it possible to identify the individual companies that have received support.

To ask the Minister of State, Department for Business, Innovation and Skills how many businesses in Glasgow North East constituency have received support from the Government since 2008. (319973)

Business support is devolved to the Scottish Executive. I suggest my hon. Friend writes to the Executive.

To ask the Minister of State, Department for Business, Innovation and Skills how many businesses in (a) the North West, (b) the City of Manchester and (c) Manchester Central constituency have received financial assistance from his Department and its predecessor since December 2007. (321038)

Since December 2007, a total of 293 businesses in the north-west have been awarded assistance from the Grant for Business Investment (GBI) and Grant for Research & Development (Grant for R&D) schemes. Of this total, 23 businesses have been in the city of Manchester and 18 in the Manchester, Central constituency.