Small Businesses: Government Assistance:Written question - HL1545

Q
Asked on: 12 September 2017
Department for Business, Energy and Industrial Strategy
Small Businesses: Government Assistance
Lords
To ask Her Majesty's Government what is their estimate of the monetary benefit to individual small and medium-sized enterprises from support provided under the Small Business, Enterprise and Employment Act 2015.
A
Answered by: Lord Prior of Brampton
Answered on: 20 September 2017

At around 5.5m, small and medium-sized businesses comprise 99.9% of UK businesses. The Government recognises the importance of small and medium-sized businesses and the valuable contribution that they make to our economy.

To avoid overburdening businesses the Small Business, Enterprise and Employment Act 2015 has, amongst other things, reduced regulatory burdens, improved payment practices across the public sector and improved access to finance.

In many instances it would be difficult to quantify the monetary benefit directly attributable to the support provided under the Small Business, Enterprise and Employment Act 2015, rather than by other business activities.

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