Question

To ask the Secretary of State for Business, Innovation and Skills, what steps he is taking to support employed people who wish to start their own business.

Small businesses are vital to the economy and this Government is supporting people to start up a business in a number of ways.

The website www.greatbusiness.gov.uk provides general support and advice for entrepreneurs starting out; specific support available in Northern Ireland is available at www.investni.com . We recognise that a key issue for many start-ups is accessing affordable finance. The British Business Bank recently published “The Business Finance Guide: A Journey from Start-Up to Growth” which is available on the British Business Bank Website. It is a unique guide that sets out the main things to consider and outlines sources of finance available to businesses – ranging from start-ups to growing businesses.

For those looking for start up finance and advice there are Start-Up Loans: 24 loans worth over £100, 000 have been drawn down in Belfast since the scheme began in 2012.