With the election fast approaching in May 2015 the Autumn Statement, usually regarded as secondary to the budget took centre stage today as a surge of publicity greater than usual surrounded the pre-election announcements.

1. Autumn Statement
2014
What does it mean for you and
your growing business?

2. UK has the fastest
growing economy
in the G7

3. UK economy is growing 2.5 x
faster than Germany
And 7x faster than France

4. Growth forecast
We beat the budget
predictions with 3%
growth forecast
(Up from 2.7% in March)

5. Growth and Investment
under the current government

6. For your business…
Working towards goal of unlocking £10bn
finance by 2018
£900m additional boost for
small business support
pledged

7. £500m
for startups and small businesses through
the Enterprise Finance Guarantee scheme.
A government backed venture capital fund
who invest in small but fast growing
businesses.

8. £400m
Injection for the state backed British
Business Bank to support small businesses
in their quest for funding and access to
credit.
Specific encouragement towards
peer-to-peer lending

9. Funding for Lending
extended by a further
year, focusing
specifically on helping
smaller businesses

10. On business rates…

11. “Help for the high street”
A full review of the structure of business
rates has been demanded

12. UK’s business rates are the highest in
Europe…
…and it’s killing our high street.

13. x2
Small Business Rate Relief
will double for another year.

14. Business Rate Relief
If you own a small business which has a
rateable value of below £18,000 a year (or less
than £25,500 in Greater London) you could
claim up to half of your business rates back.
You’ll get 100% relief (doubled from the usual rate of 50%) until 31 March 2015
for properties with a rateable value of £6,000 or less.
That means you won’t pay business rates on properties with a rateable value of
£6,000 or less.

15. “Help for the 50%
high street”
Last year’s £1,000 discount on rates for
shops, pubs and cafes has been increased
50% to offer £1,500 next year

16. On business export…

17. Support for export
£45m
Package of support
pledged to help
businesses with
exporting into new
markets

18. Britain is the most entrepreneurial economy in
Europe but a slow down in export has occurred
due to recession in Japan and Europe our major
markets…
Support for expansion
into new export market
hotspots in Africa and
Asia

19. On tax breaks…

20. Additional creative tax breaks
‘tax breaks have ushered a
golden age for Britain’s creative
industries’

21. New extension of theatre tax break to
include orchestras…
…and a new children’s television credit
should save a treasured production sector in
decline.

22. The Research & Development tax
credit for small and medium companies
increases to 230%.
Meaning businesses can get even more of
their profitable or pre revenue development
costs back in cash every year.

23. On employment…

24. 500,000 new jobs
have been created in the past
year
85% new jobs created
are full time

25. Employer obligation to
pay National Insurance
for young apprentices
has been scrapped

26. The number of people receiving
unemployment benefit fell by 23%
The gender pay gap
is the lowest that it
has ever been in UK
history

27. On science…

28. “In 2010 the UK was ranked 14th
in the Global Innovation Index…
now we are 2nd”

29. “Scientific advance is a human endeavour
worthy of support in its own right. It is
also crucial to our economic future”
Next step: Allocate £6bn for research
facilities in our scientific businesses and
community

30. As of December 3rd
Britain was awarded the
lead role in the next
international effort to
explore planet
Mars!

31. On investment in the
north…

32. “Northern Powerhouse”
Embrace the challenge of creating a more
balanced national economy – with much of
the new science investment and investment
pledges in most sectors in the North.

33. The great cities of the North will
complement our capital city driven by
billions of £s of investment committed to
science, transport and new civic power in
the northern towns and cities.

34. On infrastructure…

35. “Improving productivity for all
businesses also demands a
major investment in our
nation’s infrastructure”

36. Global Investment
National Infrastructure
Plan
Is now helping the UK to
attract more investment
from around the world
than any other European
country.

37. Read more advice for growing businesses
on our blog.