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To ask the Secretary of State for Business and Trade, with reference to the answer of 20 April 2026 to Question 126604 on UK Export Finance: Media, how multicultural representation is measured for that metric; and whether this requires non-white ethnicities to appear in 33% of media advertising.
To ask the Secretary of State for Business and Trade, with reference to the answer of 20 April 2026 to Question 126604 on UK Export Finance: Media, how multicultural representation is measured for that metric; and whether this requires non-white ethnicities to appear in 33% of media advertising.
Since the Honourable Member’s previous question, the contract in question has been
re-procured. The new contract was awarded on 11 June 2026, commenced on 14 June, and will run for four years. The social value Key Performance Indicator (KPI) included in the previous contract has been removed. The KPI for the new contract, which is aligned with Government Commercial Agency guidance, will be measured annually and is as shown below:
The Supplier shall submit an annual Social Value report setting out delivery against the Social Value commitments agreed at Framework appointment.
The annual Social Value report shall be reviewed to determine performance across the following Social Value themes:
- Support for Local and Regional Economies
- Job Creation and Skills Development
- Economic Inclusion
- Measurable Outcomes and Reporting
Performance shall be determined using the following ratings:
- Good – Review confirms full delivery of applicable Social Value commitments, with no material concerns identified.
- Approaching Target – Review confirms delivery of the majority of applicable Social Value commitments, with no material concerns identified.
- Requires Improvement – Review identifies partial delivery of Social Value commitments and/or material concerns requiring remediation.
Inadequate – Review identifies a significant failure to deliver Social Value commitments and/or failure to engage with agreed Social Value standards.
To ask the Secretary of State for Business and Trade, what discussions he has had with the British Business Bank on supporting access to capital for women‑led and ethnic minority‑led businesses.
To ask the Secretary of State for Business and Trade, what discussions he has had with the British Business Bank on supporting access to capital for women‑led and ethnic minority‑led businesses.
The British Business Bank has numerous new and successful programmes to support access to capital for underrepresented groups, including:
- new £400 million Investor Pathways Capital initiative to reduce barriers to entry for new fund managers, with 50% of this ringfenced for women,
- new Diverse Angel Syndicate initiative to catalyse the growth of diverse angel groups,
- Start Up Loans programme which has delivered more than £1.2 billion in loans, with around 40% of its loans to female founders and 20% to ethnic minority-led businesses,
- £130 million invested into the Invest in Women Taskforce’s funding pool.
The Bank is also a founding signatory to the Investing in Women Code.
To ask the Secretary of State for Business and Trade, what evidence his Department submitted to the Office for National Statistics' review of the ethnicity harmonised standard, including in relation to the recording of Sikhs and Jewish people as ethnic groups.
To ask the Secretary of State for Business and Trade, what evidence his Department submitted to the Office for National Statistics' review of the ethnicity harmonised standard, including in relation to the recording of Sikhs and Jewish people as ethnic groups.
To ask the Secretary of State for Business and Trade, whether his Department was invited by the Office for National Statistics to provide input into its review of the ethnicity harmonised standard.
To ask the Secretary of State for Business and Trade, whether his Department was invited by the Office for National Statistics to provide input into its review of the ethnicity harmonised standard.
A review of the harmonised standard for ethnicity data collection is underway by the Government Statistical Service Harmonisation team.
A public consultation between October 2025 and February 2026 sought views from a wide range of users, including Government Departments and public bodies, to understand user needs for ethnic group data. This was supplemented by a programme of engagement activity, including with representatives of all government departments.
ONS have committed to providing an initial response to the public consultation in April, and a full report on the consultation in late summer 2026 will include more detailed information on the departments that responded to the consultation.
As of tomorrow, the Lending Standards Board will be no more, because its funders—the banks—have pulled out. Will Minister meet me urgently to take forward the good work that the board was doing, particularly on the ethnicity code? That work exposed the fact that only 19% of minority businesses achieve loans, whereas 58% of standard applications do.
As of tomorrow, the Lending Standards Board will be no more, because its funders—the banks—have pulled out. Will Minister meet me urgently to take forward the good work that the board was doing, particularly on the ethnicity code? That work exposed the fact that only 19% of minority businesses achieve loans, whereas 58% of standard applications do.
Businesses led by entrepreneurs from ethnic minority backgrounds make a huge contribution to all our constituencies. Indeed, I met two such remarkable business people in Acton a couple of days ago. My hon. Friend is right to mention that finance is a barrier for under-represented groups, including ethnic minorities. Dealing with that is a key part of the small business strategy, and it is why we have put billions more into the British Business Bank. She has led on these issues, and I am of course happy to meet her to discuss the future of the programme that she mentions.
Businesses led by entrepreneurs from ethnic minority backgrounds make a huge contribution to all our constituencies. Indeed, I met two such remarkable business people in Acton a couple of days ago. My hon. Friend is right to mention that finance is a barrier for under-represented groups, including ethnic minorities. Dealing with that is a key part of the small business strategy, and it is why we have put billions more into the British Business Bank. She has led on these issues, and I am of course happy to meet her to discuss the future of the programme that she mentions.
Businesses led by entrepreneurs from ethnic minority backgrounds make a huge contribution to all our constituencies. Indeed, I met two such remarkable business people in Acton a couple of days ago. My hon. Friend is right to mention that finance is a barrier for under-represented groups, including ethnic minorities. Dealing with that is a key part of the small business strategy, and it is why we have put billions more into the British Business Bank. She has led on these issues, and I am of course happy to meet her to discuss the future of the programme that she mentions.
As of tomorrow, the Lending Standards Board will be no more, because its funders—the banks—have pulled out. Will Minister meet me urgently to take forward the good work that the board was doing, particularly on the ethnicity code? That work exposed the fact that only 19% of minority businesses achieve loans, whereas 58% of standard applications do.
To ask the Secretary of State for Business and Trade, what discussions he has had with the (a) Financial Conduct Authority and (b) Prudential Regulation Authority on (i) monitoring and (ii) supporting equitable outcomes for ethnic minority businesses.
To ask the Secretary of State for Business and Trade, what discussions he has had with the (a) Financial Conduct Authority and (b) Prudential Regulation Authority on (i) monitoring and (ii) supporting equitable outcomes for ethnic minority businesses.
The government’s approach to support equitable outcomes for businesses led by ethnic minorities and other underserved groups is to work with the financial services sector, building on a shared commitment to fairness and equality and exchanging knowledge of good practice.
Earlier this year the government published a Call for Evidence on small business access to finance, which included the experiences of ethnic minority-led businesses and other underserved groups, and will be publishing our response to this in the Autumn and the further steps we will take.
To ask the Secretary of State for Business and Trade, whether he has considered convening a cross-agency taskforce with the (a) Financial Conduct Authority, (b) Prudential Regulation Authority, (c) British Business Bank, (d) HM Treasury and (e) Lending Standards Board to develop a joined-up strategy to embed the ethnicity code...
To ask the Secretary of State for Business and Trade, whether he has considered convening a cross-agency taskforce with the (a) Financial Conduct Authority, (b) Prudential Regulation Authority, (c) British Business Bank, (d) HM Treasury and (e) Lending Standards Board to develop a joined-up strategy to embed the ethnicity code...
The government’s approach to support equitable outcomes for businesses led by ethnic minorities and other underserved groups is to work with the financial services sector, building on a shared commitment to fairness and equality and exchanging knowledge of good practice.
Earlier this year the government published a Call for Evidence on small business access to finance, which included the experiences of ethnic minority-led businesses and other underserved groups, and will be publishing our response to this in the Autumn and the further steps we will take.
Letter dated 25/06/2025 from Lord Leong to Baroness Verma regarding a question raised in the Employment Rights Bill committee stage (ninth day): black and minority ethnic businesses - participation in the consultation ‘Making Work Pay: creating a modern framework for industrial relations'. 2p.
Letter dated 25/06/2025 from Lord Leong to Baroness Verma regarding a question raised in the Employment Rights Bill committee stage (ninth day): black and minority ethnic businesses - participation in the consultation ‘Making Work Pay: creating a modern framework for industrial relations'. 2p.
Motion, That this House has considered access to venture capital for people from ethnic minority and other underrepresented backgrounds. Agreed to on question.
Motion, That this House has considered access to venture capital for people from ethnic minority and other underrepresented backgrounds. Agreed to on question.
I beg to move,
That this House has considered access to venture capital for people from ethnic minority and other underrepresented backgrounds.
It is a pleasure to serve under your chairmanship, Sir Jeremy. Venture capital in the United Kingdom is a unique and valuable industry that supports many smaller innovating companies with...
I beg to move,
That this House has considered access to venture capital for people from ethnic minority and other underrepresented backgrounds.
It is a pleasure to serve under your chairmanship, Sir Jeremy. Venture capital in the United Kingdom is a unique and valuable industry that supports many smaller innovating companies with...
I commend the hon. Lady for securing this debate. In Northern Ireland we have the Minorities Recognition Awards, which launched the innovators grant competition for ethnic minorities in Northern Ireland. It has been a successful collaboration that offers entrepreneurial individuals from ethnic minority backgrounds who are resident in Northern Ireland...
I commend the hon. Lady for securing this debate. In Northern Ireland we have the Minorities Recognition Awards, which launched the innovators grant competition for ethnic minorities in Northern Ireland. It has been a successful collaboration that offers entrepreneurial individuals from ethnic minority backgrounds who are resident in Northern Ireland...
I entirely agree that we need to do more to bridge that gap. I am delighted to hear about some of the efforts already being made towards that goal in Northern Ireland.
In 2022, 10% of first-time equity deals went to all-ethnic minority teams, with 19% of total investment value. However,...
I entirely agree that we need to do more to bridge that gap. I am delighted to hear about some of the efforts already being made towards that goal in Northern Ireland.
In 2022, 10% of first-time equity deals went to all-ethnic minority teams, with 19% of total investment value. However,...
I will begin in the usual way by congratulating the hon. Member for Richmond Park (Sarah Olney) on securing this debate. I also acknowledge the contribution of the hon. Member for Strangford (Jim Shannon), who seems to represent the whole of Northern Ireland in Westminster Hall. The hon. Member for...
I will begin in the usual way by congratulating the hon. Member for Richmond Park (Sarah Olney) on securing this debate. I also acknowledge the contribution of the hon. Member for Strangford (Jim Shannon), who seems to represent the whole of Northern Ireland in Westminster Hall. The hon. Member for...
I just want to highlight that part of my pitch was that we could do more to encourage that voluntary take up. Anything compulsory would be very much a last resort. We should be encouraging voluntary take up in the first instance.
I just want to highlight that part of my pitch was that we could do more to encourage that voluntary take up. Anything compulsory would be very much a last resort. We should be encouraging voluntary take up in the first instance.
I am completely with the hon. Lady on that point and recognise that is exactly where Government can play a useful role in getting behind industry-led initiatives. We have certainly been doing that in the context of the invest in women taskforce and are also working with the Lending Standards...
I am completely with the hon. Lady on that point and recognise that is exactly where Government can play a useful role in getting behind industry-led initiatives. We have certainly been doing that in the context of the invest in women taskforce and are also working with the Lending Standards...
To ask the Secretary of State for Business and Trade, what steps his Department is taking to help increase representation of (a) women and (b) minority ethnic founders in venture capital funding.
To ask the Secretary of State for Business and Trade, what steps his Department is taking to help increase representation of (a) women and (b) minority ethnic founders in venture capital funding.
The Department leads on the Invest in Women Taskforce (IWT) and the Investing in Women Code (IWC). In November, the IWT launched a £255 million fund for female entrepreneurs, which will be invested through female investors in the UK, including backing female emerging fund managers. Signatories to the IWC diversify their investment committees and decision makers, recognising diverse leaders make better decisions.
In February 2025, a roundtable discussion was held with the finance industry, including Venture Capital representatives, to address access to finance issues for ethnic minority founders.
We have also launched a Call for Evidence on Small Business Access to Finance to help inform government policy and initiatives, which includes a specific focus on underserved entrepreneurs.
To ask the Secretary of State for Business and Trade, what discussions he has had with Cabinet colleagues on support to improve the investment readiness of (a) women and (b) BAME entrepreneurs.
To ask the Secretary of State for Business and Trade, what discussions he has had with Cabinet colleagues on support to improve the investment readiness of (a) women and (b) BAME entrepreneurs.
The government backed Invest in Women Taskforce aims to make the UK the best place in the world to be a female entrepreneur. To improve investment readiness, it seeks to break down barriers such as lack of mentorship, resource and networks for aspiring women-led businesses. In 2024, our Venture Capital Unit launched a Female Founders Cohort initiative to support women-led businesses raise funds from international venture capital investors.
In February 2025, a roundtable discussion was held with ethnic minority businesses (EMB) and the financial services sector to discuss challenges in accessing finance, as well as how we can better engage and support EMB founders.
We have also launched a Call for Evidence on Small Business Access to Finance to help inform government policy and initiatives, which includes a specific focus on underserved entrepreneurs.
To ask His Majesty's Government what steps they are taking to encourage companies to increase diversity in senior leadership roles, particularly in relation to (1) ethnic minorities, and (2) women.
To ask His Majesty's Government what steps they are taking to encourage companies to increase diversity in senior leadership roles, particularly in relation to (1) ethnic minorities, and (2) women.
The Department for Business and Trade sponsors two voluntary and business-led initiatives: the FTSE Women Leaders Review and the Parker Review on ethnic minority leadership. Both reviews encourage companies to achieve voluntary targets - 40% representation of women on boards and in senior management, and at least one ethnic minority director on company boards.
The 2024 report showed that 42.1% of the FTSE 350 board members were women behind only France who has adopted a quota approach to diversity and ahead of other countries with quotas. The 2024 Parker review reported that 77% of boards FTSE 350 boards had met their target.
To ask the Secretary of State for Business and Trade, what steps he is taking with Cabinet colleagues to help encourage (a) women and (b) people from ethnic minorities to found start-up companies.
To ask the Secretary of State for Business and Trade, what steps he is taking with Cabinet colleagues to help encourage (a) women and (b) people from ethnic minorities to found start-up companies.
This government is working to advance equality of access to start-up opportunities irrespective of gender or race. Everyone who can and wants to set up a small business should have access to support to do so, whether through direct government support or through programmes delivered by mayors and other institutions. Ensuring this support can be accessed by all is key to the government’s mission to secure economic growth and boost productivity throughout the UK. All businesses can access support via, Help to Grow Management, Growth Hubs, and the British Business Bank.
The government’s Start Up Loans programme provides finance and mentoring support to founders, with 40% of loans going to women and 21% to people from ethnic minorities.
The government-backed and industry-led Invest in Women Taskforce is working to make entrepreneurship more accessible to women, so that 30% of all businesses are female-powered by 2030.