Steve Baker (Wycombe) (Con): What recent progress she has made on encouraging women to set up their own businesses?
The Minister for Women (Nicky Morgan): The Government offer a wide range of support to women entrepreneurs—for example, the new enterprise allowance, mentoring, business advice and start-up loans. I also recently announced a £1 million challenge fund specifically to support women to move their businesses online and take advantage of superfast broadband. We know these measures are making a difference, with more women running their own businesses than ever before.
Steve Baker: Which particular areas have the Government identified where we can celebrate the success of women entrepreneurs?
Nicky Morgan: There are many different areas, but let me just pick one. The latest statistics from the Federation of Small Businesses show a dramatic increase in the number of women starting up businesses in the retail sector, and high streets across the country are seeing the benefit. Half of all small businesses established in retail in the past two years are primarily owned by women. That is in stark contrast with 20 years ago, when it was less than a quarter. That demonstrates the fundamental role that women are playing in helping the country to recover from recession. I hope that Members on all sides of the House will encourage retail businesses on their high streets to apply for the Future High Streets Forum’s Great British high streets awards.
The High Street of the Year Award can be found here.