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1156199

	registered interest
	date	24/10/2019
	answering body	Department for Business, Energy and Industrial Strategy
	answering dept id	201
	answering dept short name	Business, Energy and Industrial Strategy
	answering dept sort name	Business, Energy and Industrial Strategy
	hansard heading	Civil Society
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Business, Energy and Industrial Strategy, what steps she has taken to promote (a) social enterprise and (b) other alternative forms of business.
	tabling member constituency	Sefton Central
	tabling member printed	Bill Esterson
	uin	5003
	answer	answer is ministerial correction date of answer 30/10/2019 answer text <p>The Government welcomes the contribution which social enterprises make to local growth and prosperity in our communities up and down the country. The UK’s company law framework allows for a variety of business forms, in part to suit those adopting social or environmental purposes.</p><p> </p><p>We welcome the growth of purposeful businesses and have taken steps to encourage and enable this trend. The Government encouraged the business-led development of ‘Purposely’, a tool to help social entrepreneurs embed purpose into their businesses using the flexibility provided in the Companies Act; it also established the Inclusive Economy Partnership to harness the power of business as a force for good in our society; and it has supported the new Impact Investing Institute to grow social investment.</p><p> </p><p>Community Interest Companies (CICs) are a huge success story. They are delivering benefits to more and more of our communities right across the UK. CICs have grown exponentially since 2005. There are now over 17,000 now on the public register. They are promoted by the Regulator of Community Interest Companies, which is an independent statutory office holder appointed by my rt. hon. Friend the Secretary of State.</p><p> </p><p>The UK’s corporate governance framework has been updated to promote purpose in businesses. The UK’s Corporate Governance Code was revised, with effect from 1 January 2019, to promote the importance of having a clear corporate purpose. The Governance Principles for Large Private Companies developed last year by Sir James Wates do the same. Company reporting requirements, also introduced this year, now require companies to report how they have regard to wider societal interests within the meaning of Section 172 of the Companies Act.</p> answering member constituency Rochester and Strood answering member printed Kelly Tolhurst grouped question UIN 5004 5005 question first answered 30/10/2019 16:53:08 answering member 4487 label Biography information for Kelly Tolhurst previous answer version 2601 answering member constituency Rochester and Strood answering member printed Kelly Tolhurst answering member 4487 label Biography information for Kelly Tolhurst
	tabling member	4061 label Biography information for Bill Esterson

1156204

	registered interest
	date	24/10/2019
	answering body	Department for Business, Energy and Industrial Strategy
	answering dept id	201
	answering dept short name	Business, Energy and Industrial Strategy
	answering dept sort name	Business, Energy and Industrial Strategy
	hansard heading	New Businesses
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Business, Energy and Industrial Strategy, what steps she has taken to encourage people setting up businesses to embed (a) social and (b) environmental purpose into their business structures.
	tabling member constituency	Sefton Central
	tabling member printed	Bill Esterson
	uin	5005
	answer	answer is ministerial correction date of answer 30/10/2019 answer text <p>The Government welcomes the contribution which social enterprises make to local growth and prosperity in our communities up and down the country. The UK’s company law framework allows for a variety of business forms, in part to suit those adopting social or environmental purposes.</p><p> </p><p>We welcome the growth of purposeful businesses and have taken steps to encourage and enable this trend. The Government encouraged the business-led development of ‘Purposely’, a tool to help social entrepreneurs embed purpose into their businesses using the flexibility provided in the Companies Act; it also established the Inclusive Economy Partnership to harness the power of business as a force for good in our society; and it has supported the new Impact Investing Institute to grow social investment.</p><p> </p><p>Community Interest Companies (CICs) are a huge success story. They are delivering benefits to more and more of our communities right across the UK. CICs have grown exponentially since 2005. There are now over 17,000 now on the public register. They are promoted by the Regulator of Community Interest Companies, which is an independent statutory office holder appointed by my rt. hon. Friend the Secretary of State.</p><p> </p><p>The UK’s corporate governance framework has been updated to promote purpose in businesses. The UK’s Corporate Governance Code was revised, with effect from 1 January 2019, to promote the importance of having a clear corporate purpose. The Governance Principles for Large Private Companies developed last year by Sir James Wates do the same. Company reporting requirements, also introduced this year, now require companies to report how they have regard to wider societal interests within the meaning of Section 172 of the Companies Act.</p> answering member constituency Rochester and Strood answering member printed Kelly Tolhurst grouped question UIN 5003 5004 question first answered 30/10/2019 16:53:08 answering member 4487 label Biography information for Kelly Tolhurst previous answer version 2603 answering member constituency Rochester and Strood answering member printed Kelly Tolhurst answering member 4487 label Biography information for Kelly Tolhurst
	tabling member	4061 label Biography information for Bill Esterson

1156201

	registered interest
	date	24/10/2019
	answering body	Department for Business, Energy and Industrial Strategy
	answering dept id	201
	answering dept short name	Business, Energy and Industrial Strategy
	answering dept sort name	Business, Energy and Industrial Strategy
	hansard heading	Community Interest Companies
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Business, Energy and Industrial Strategy, what steps she has taken to promote community interest companies as a form of business.
	tabling member constituency	Sefton Central
	tabling member printed	Bill Esterson
	uin	5004
	answer	answer is ministerial correction date of answer 30/10/2019 answer text <p>The Government welcomes the contribution which social enterprises make to local growth and prosperity in our communities up and down the country. The UK’s company law framework allows for a variety of business forms, in part to suit those adopting social or environmental purposes.</p><p> </p><p>We welcome the growth of purposeful businesses and have taken steps to encourage and enable this trend. The Government encouraged the business-led development of ‘Purposely’, a tool to help social entrepreneurs embed purpose into their businesses using the flexibility provided in the Companies Act; it also established the Inclusive Economy Partnership to harness the power of business as a force for good in our society; and it has supported the new Impact Investing Institute to grow social investment.</p><p> </p><p>Community Interest Companies (CICs) are a huge success story. They are delivering benefits to more and more of our communities right across the UK. CICs have grown exponentially since 2005. There are now over 17,000 now on the public register. They are promoted by the Regulator of Community Interest Companies, which is an independent statutory office holder appointed by my rt. hon. Friend the Secretary of State.</p><p> </p><p>The UK’s corporate governance framework has been updated to promote purpose in businesses. The UK’s Corporate Governance Code was revised, with effect from 1 January 2019, to promote the importance of having a clear corporate purpose. The Governance Principles for Large Private Companies developed last year by Sir James Wates do the same. Company reporting requirements, also introduced this year, now require companies to report how they have regard to wider societal interests within the meaning of Section 172 of the Companies Act.</p> answering member constituency Rochester and Strood answering member printed Kelly Tolhurst grouped question UIN 5003 5005 question first answered 30/10/2019 16:53:08 answering member 4487 label Biography information for Kelly Tolhurst previous answer version 2602 answering member constituency Rochester and Strood answering member printed Kelly Tolhurst answering member 4487 label Biography information for Kelly Tolhurst
	tabling member	4061 label Biography information for Bill Esterson

1156198

	registered interest
	date	24/10/2019
	answering body	Department for Business, Energy and Industrial Strategy
	answering dept id	201
	answering dept short name	Business, Energy and Industrial Strategy
	answering dept sort name	Business, Energy and Industrial Strategy
	hansard heading	New Businesses: Government Assistance
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Business, Energy and Industrial Strategy, what steps she has taken to support (a) women and (b) people from ethnic minorities that want to set up businesses.
	tabling member constituency	Sefton Central
	tabling member printed	Bill Esterson
	uin	5002
	answer	answer is ministerial correction date of answer 30/10/2019 answer text <p>The UK is one of the best places in the world to start and grow a business. Government is committed to supporting all entrepreneurs, whatever their background, to have the opportunity to make their business ideas a reality.</p><p>We provide support to all entrepreneurs to set up businesses through our online services on GOV.UK, the Business Support Helpline, and the network of 38 local Growth Hubs across England. In 2018, 47% of the Business Support Helpline’s callers were women.</p><p>We have been working closely with HM Treasury and industry to implement the eight initiatives from the Alison Rose Review of Female Entrepreneurship, to tackle the barriers faced by women when starting and scaling a business. We have set an ambition to increase the number of female entrepreneurs by half by 2030 – equivalent to an additional 600,000 female entrepreneurs.</p><p>The British Business Bank’s Start-Up Loans Programme provides funding and intensive support to new entrepreneurs, and has delivered over 67,000 loans, worth over £534m since it began in 2012 (as at end-September 2019). 40% of Start Up Loans have gone to women – worth over £198m. 20% of Start Up Loans have gone to BAME entrepreneurs – worth over £100m.</p><p>BEIS has also launched an independent review into Young Entrepreneurship, led by the Prince’s Trust, that seeks to better understand young entrepreneurs, including young female and ethnic minority entrepreneurs, the specific barriers and opportunities they face – such as access to finance, and networks - and what more can be done to support them to start and grow a business.</p> answering member constituency Rochester and Strood answering member printed Kelly Tolhurst question first answered 30/10/2019 16:32:03 answering member 4487 label Biography information for Kelly Tolhurst previous answer version 2600 answering member constituency Rochester and Strood answering member printed Kelly Tolhurst answering member 4487 label Biography information for Kelly Tolhurst
	tabling member	4061 label Biography information for Bill Esterson