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Chris Chope

Conservative MP for Christchurch & East Dorset

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A Strong Economy - Written Question

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Tuesday, 11 February, 2020

Question:

To ask the Secretary of State for Business, Energy and Industrial Strategy, what definition of scale-up businesses her Department uses; and what steps she is taking to support those businesses.

Answer:

We define scaleups using the OECD definition of high growth, i.e. an enterprise with a cumulative average annual growth in employees or turnover greater than 20 per cent per annum over a three-year period, and with more than 10 employees at the beginning of the period.

Scaleups play an important role in the UK economy: they generate around 20% of all turnover in the economy and around 15% of employment, and Scale Ups can play a role in driving innovation. The number of scaleups has risen overall by 25% over the 5 years to 2018 to 33,860.

We have taken a number of actions to create the right conditions for businesses to achieve their potential to grow to scale, including:

  • Supporting over £7bn of finance to over 91K smaller businesses through the British Business Bank (as at June 2019).
  • improving the support available through local Growth Hubs to help businesses to overcome the challenges they face in scaling up; and
  • using cutting edge data science techniques to identify high potential firms and connect them the right help at the right time.
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General Election 2019 - Conservative Messages

More about our priorities:

Strengthening Our NHS

Investing in Schools

A Strong Economy

Safer Streets

In Parliament

Click the squares below to find out more about the various things that Chris does in Parliament in his role as a Member of Parliament for Christchurch, and how you can arrange your own visit to Westminster.

Roads

Chris Chope Seeks Clarification on the Impact of the Streetspace Scheme

Tuesday, 13 April, 2021

Chris Chope seeks clarity on the impact of the Streetspace Scheme from the Secretary of State for Transport:

Christopher Chope Conservative, Christchurch

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Chris Chope MP for Christchurch & East Dorset

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