THIS Autumn Statement like many others had a number of the big announcements trailed in the run up to the Chancellor’s speech to the House of Commons.

We already knew that there was an increase in infrastructure spending most notably in improving roads across the North East. We were also warned not to expect and further big spending announcements as the economic balance sheet wouldn’t allow it.

Despite all this small businesses wanted to see the Chancellor take strong action to help the regional economy to grow. Has the Chancellor delivered for small businesses?

Overall, many small businesses will be heartened with the Autumn Statement but not ecstatic.

Business rates are one of the biggest costs small businesses have to pay and continue to rise. Based on an outdated system many wanted to see the Chancellor announce that the system would be reformed. All businesses will be grateful for this review, but let’s be absolutely clear on what businesses want - fundamental reform of the business rate system. The announced package of renewed reliefs, will also be essential, as they will help bridge the gap until fundamental reform can deliver the change everyone agrees must now come.

Too many small businesses across the North-East are still reporting that accessing finance from the banks is too hard. Despite signs of recovery, there has been only limited progress in increasing lending to small firms. Only half of small business applications for finance are successful. The measures to support small businesses were trailed before the speech including extending the Funding for Lending Scheme (FLS) to focus on small businesses.

We’ve heard this before and still the lending to small businesses struggle. The Chancellor should have better targeted banks to focus on meeting the needs of firms looking to hire staff, export, and grow their businesses. Despite signs of recovery, there has been only limited progress in increasing lending to small firms. The extension to the FLS alongside new money to further back the British Business Bank, are prudent steps to makes sure these gains are sustained and extended.

For our long term growth, the Chancellor is right to support young people through apprenticeships. Getting the right skilled staff is a huge problem for small businesses, which have been responsible for the majority of jobs created, in the region. Encouraging more to take on apprentices will be helped with the National Insurance relief for businesses taking on apprentices under the age of 25 and tackle the North-East’s skills gap head on.

This will need to be supported by a reformed apprenticeship framework and funding mechanism that does more to encourage small businesses to invest in developing their workforce through high quality apprenticeships.

Extending the research and development (R&D) tax credits will help support the fantastic innovative businesses we have around Netpark, the soon to be finished National Biologics Centre in Darlington and in Digital City, based in Middlesbrough.

More needs to be done to encourage small businesses to take up the tax credit as there are approximately only 1in 50 currently doing so. Making the process simpler and celebrating the fantastic businesses we have should help.

There was a nod to helping more small businesses export their goods and services with an extra £20m pledged to support new exporters.

The North-East is leading the way in exporting but we need to see more small businesses take the plunge. Providing extra funding is only part of this and just like the R&D tax credits more must be done to help more small businesses start exporting.

Overall, small businesses will be heartened by the announcements in the Autumn Statement to tackle business rates, infrastructure and skills.

The Chancellor has listened to the needs of small business, despite tight public finances. We now need to see the rhetoric turned into real action on the ground.