Chuka Umunna has spoken about the major challenges for the constituency in the year ahead as he reflected on 12 months in the job and his promotion.

Until last week, the Streatham MP was Labour leader Ed Miliband’s Parliamentary Private Secretary, but was moved to Shadow Minster for Small Business and Enterprise – all within a year of being elected.

He said he was “deeply honoured” to be chosen for the new role.

He said: “Going forward, this is an area the leadership take a keen interest in and want us to be carving out ground on. He was very keen I should do that and, of course, it flows nicely on through the solid grounding I got through learning and the evidence I had at the Treasury Select Committee.

“It is a big area. At a national level I was doing quite a lot on the committee on this area. But now I have been asked to really lead the way for the Labour Party, really create a splash and take ownership in this area for the party and be the trailblazer for business.”

He said the big local issues were housing, affordable and social, the rise of youth violence and the economy.

He said: “We are seeing an increase in shooting and knife incidents. The difficulty with that issue is it is complex – there isn’t one easy solution and it isn’t going to be solved overnight.”

He said he wanted to raise the profile of regenerating the A23 “without raising expectations”, but said the Streathum Hub development was on course to be completed by 2013 and news on the Magabowl development was due shortly.

He said: “The Streatham part of the constituency is going places. It’s got huge potential, but we have to realise it.”

Mr Umunna said being elected to Parliament had meant he often worked seven-days-a-week, but that serving the constituency was “a privilege”.

He said: “It is humbling when people come up to me and say thanks for the work you are doing.”