UK Start-up Companies

Lord Bilimoria Excerpts

Wednesday 28th January 2026 Lords Chamber

[Baroness Lloyd of Effra (Lab)]

As noble Lords may know, we are supporting our public finance institutions. We are increasing the capitalisation of the British Business Bank, which can play a role in this area, complemented by the National Wealth Fund’s new mandate, which includes a focus on other sectors such as digital and technology. As the noble Lord is aware, we are also acting over the longer term, which may take a little longer, to increase the amount of capital that domestic pension funds can allocate to private assets, including through the Mansion House Accord and the Sterling 20 group, in order to continue to support businesses getting access to finance in the UK.

[Lord Bilimoria (CB)]

My Lords—

[Lord Cromwell (CB)]

My Lords—

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[Lord Bilimoria (CB)]

My Lords, I am a member of the expert advisory council of the Government’s Help to Grow: Management scheme set up by Rishi Sunak when he was Chancellor, which this Government have happily continued. Some 10,000 businesses have graduated from this, but is the Minister aware that only businesses with five to 249 employees are eligible for the scheme? Micro-businesses, including start-ups, which make up 90% of SMEs in this country have fewer than five employees and so are not eligible for this programme. Will the Government consider expanding this very successful programme to include micro-businesses?

[Baroness Lloyd of Effra (Lab)]

I am happy to take away that question and consult with colleagues on it. The noble Lord is right that businesses of all sizes make up the huge vibrancy of our economy and we must think about the right intervention from government and the private sector to help them to grow.