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Written question asked by Lord Taylor of Warwick (Non-affiliated) on Thursday, 15 December 2022, in the House of Lords. It was due for an answer on Tuesday, 3 January 2023. It was answered by Lord Parkinson of Whitley Bay (Conservative) on Friday, 30 December 2022 on behalf of the Department for Digital, Culture, Media and Sport.

Community Development and New Businesses: Urban Areas

Question

To ask His Majesty's Government what plans they have to develop community enterprises and entrepreneurship that are based around (1) local, and (2) circular, economies within town centres.

Answer

His Majesty’s Government recognises the positive contribution of social and community enterprises to society and the economy, including their vital role supporting local areas.

DCMS has launched the £4.1 million Social Enterprise Boost Fund to provide targeted support for early-stage social enterprises in disadvantaged places. This new fund will provide capacity-building such as business support, training, networking, one-to-one support and peer learning, and includes £1.5 million of grants for entrepreneurs to kick-start their social enterprises.

In addition to the Social Enterprise Boost Fund, DCMS supports the sector through the £900,000 Voluntary, Community and Social Enterprise Contract Readiness Fund, developed to increase social and community enterprise participation in public service delivery.

BEIS provides support through The Start Up Loans Company, a subsidiary of the British Business Bank, providing loans between £500 and £25,000 and pre- and post-application support to new entrepreneurs across the UK, including a year of free business mentoring for successful applicants.



Secondary information

Type
Written question
Reference
HL4347
Session
2022-23
Subjects
Community development Recycling New businesses Urban areas
Link
View this Written question on www.parliament.uk