Commenting on Wednesday's Autumn Statement, Carl D’Ammassa, Group Managing Director, Business Finance at Aldermore, said:
“SMEs have been given a deserved boost by [the] Autumn Statement and Spending Review with the extension of the small business rate relief, which supports 600,000 firms, for an extra year. Small businesses make a major contribution to the British economy and it is right that the Government remains committed to supporting them.
“The Chancellor has reiterated his commitment to devolving regional powers by allocating £12bn to local growth funds and enabling local authorities to set and collect their own business rates. This should make it easier for smaller companies to influence investments in their communities and ensure changes to business policy really work for them and the local economy.
"Aldermore provides strong support to Britain’s SMEs and we believe that the extension of region specific initiatives is vital to ensure that the benefits of an improving economic climate are felt right across the country.”