Oral Answers to Questions
Debate between Gareth Thomas and Melanie Onn(3 weeks, 1 day ago)
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Melanie Onn (Great Grimsby and Cleethorpes) (Lab)
The Parliamentary Under-Secretary of State for Business and Trade (Gareth Thomas)
Our small business strategy will be published later this year and will set out our plans to champion entrepreneurs, improve access to finance and help small and medium-sized enterprises to reach more markets and adopt new technology. As I alluded to earlier, we are developing our plans for our new business growth service, simplifying access to support and advice for small businesses. We are also tackling the challenge of late payments, including the introduction of a new fair payment code and upcoming legislation requiring large companies to report annually on their payment performance.
Gareth Thomas
I recognise that my hon. Friend has been very persistent on this issue, and he is entirely right to be so. We have been working with colleagues in the Home Office and the National Crime Agency to take action to crack down on illegitimate businesses that threaten to undermine the legitimate ones that exist on all of our high streets. In March, the National Economic Crime Centre co-ordinated a three-week crackdown on barbershops and other cash-intensive businesses where there were concerns, visiting almost 400 premises and securing freezing orders over a series of bank accounts totalling more than £1 million.
Melanie Onn
I thank the Minister for his answer, but I really do need to press him, because my constituents in Great Grimsby and Cleethorpes are as fed up as those of my hon. Friend the Member for Kensington and Bayswater (Joe Powell) with seeing high streets dominated by dodgy vape shops and unlicensed barbers. While some of those businesses are legitimate, a recent BBC investigative report shows that many are involved in money laundering and organised crime. Obviously, the Minister is aware of the situation, but is he working closely with the Home Office to try to tackle this blight? We probably need a national strategy, not a three-week operation.
Gareth Thomas
My hon. Friend is right to say that this is not just an issue for our high streets, such as those mentioned by our hon. Friend the Member for Kensington and Bayswater (Joe Powell), but a concern up and down the country. The National Crime Agency and Home Office colleagues are seeking to take action against illegitimate businesses, and my hon. Friend will recognise that the announcement in yesterday’s spending review of additional police officers, with more to come over the spending review period, will help us with that activity.
Oral Answers to Questions
Debate between Gareth Thomas and Melanie Onn(5 months ago)
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Gareth Thomas
One thing we need to continue to do is make it easier for entrepreneurs in the hon. Member’s constituency and across the UK to access the finance that they need to set up their business. We have given an extra £250 million to the British Business Bank, which will help to ensure that more people have access to finance across the country, including in his constituency. We will publish our small business strategy later this year, in which he will see further measures to support entrepreneurs in Broxbourne and across the UK.
Melanie Onn (Great Grimsby and Cleethorpes) (Lab)
What specific support is being provided for women entrepreneurs? They are the driving force behind small businesses in my Great Grimsby and Cleethorpes constituency, and deserve all the support that they can get.
Gareth Thomas
I strongly support my hon. Friend’s substantive point. We are backing the Invest in Women taskforce, which was set up to increase the number of female-powered businesses. We are looking at how to increase significantly the proportion of investment going to all-female founding teams; it has been stuck at just 2% of equity investment in the last decade. That is one example of the things we need to change to help women-led businesses realise their full potential.