Question to the Department for Business, Energy and Industrial Strategy:

To ask the Secretary of State for Business, Energy and Industrial Strategy, what (a) financial and (b) other steps his Department is taking to encourage the creation of businesses in (i) Coventry North East constituency and (ii) Coventry.

The Government is encouraging the creation of businesses through the Start Up Loan scheme which has provided mentoring and financial support to 198 SMEs to the value of £1,920,907 and 504 SMEs to the value of 5,124,978 in Coventry North East and Coventry respectively.

We are also committed to supporting SMEs through exemption from new regulations where possible. This exemption was recently extended to businesses with up to 500 employees, potentially reducing red tape and bureaucracy for up to 40,000 more businesses.

We are also providing support through our network of 38 Growth Hubs and Business Support Helpline which provide access to information and advice on starting a business.