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1061161
unstar this property registered interest false more like this
star this property date less than 2019-02-14more like thismore than 2019-02-14
star this property answering body
Department for Business, Energy and Industrial Strategy more like this
star this property answering dept id 201 more like this
star this property answering dept short name Business, Energy and Industrial Strategy more like this
star this property answering dept sort name Business, Energy and Industrial Strategy more like this
star this property hansard heading Financial Services: Technology more like this
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask the Secretary of State for Business, Energy and Industrial Strategy, what steps his Department is taking to encourage small businesses to invest in and utilise FinTech. more like this
star this property tabling member constituency Berwickshire, Roxburgh and Selkirk more like this
star this property tabling member printed
John Lamont remove filter
star this property uin 221819 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2019-02-22more like thismore than 2019-02-22
star this property answer text <p>The UK has been independently ranked by EY and Deloitte as the world’s leading hub for Fintech. The ambitious Fintech Sector Strategy, launched in March 2018 by the Chancellor, sets out how the Government intends to maintain that position.</p><p> </p><p>This thriving Fintech community is an advantage for small UK businesses, who benefit from easy access to a range of services including foreign exchange, loans, equity investment and invoice finance. The British Business Bank’s annual Small Business Finance Markets report, published on 11 February, states that the value of peer-to-peer business lending rose a further 18% in 2018, having increased by 51% in 2017.</p><p> </p><p>The same report notes that awareness among small businesses is also increasing, with 52% aware of peer-to-peer lending as an option (2017: 47%) and 70% aware of equity crowdfunding (2017: 60%). The British Business Bank’s portal for small businesses, the Finance Hub, has extensive information for small businesses on finance options including those available through Fintech providers and how to access them.</p><p> </p>
star this property answering member constituency Kingswood more like this
star this property answering member printed Chris Skidmore more like this
star this property question first answered
remove filter
unstar this property answering member
4021
star this property label Biography information for Chris Skidmore more like this
star this property tabling member
4608
unstar this property label Biography information for John Lamont more like this