We help realise your plans

Interview with Harry Pennells and his journey from Aspire Programme to
Lending Assistant for Close Brothers Property Finance
February 2021

Safeguarding the future of your company is one of your most important responsibilities as a business owner. Our colleagues in Close Brothers Asset Management have put together some tips and advice on how to put together a plan for your business.

A London-based property development company, founded by two young local entrepreneurs, managed to post record sales over the last two quarters of 2020 in spite of Covid-19, and argues that it’s Brexit which has been worse for business than the pandemic.

“With the vaccine roll-out imminent, there is light at the end of the tunnel now creeping into view. We are hopeful that 2021 will be the year of ‘build, build, build’ and we look forward to continuing our support of the development industry.”

The housebuilding sector has proven to be one of the most pandemic-resilient industries in the UK over the last year, however, the Home Builders Federation indicates that close to a third of the workforce will be retiring over the coming years, which risks interrupting housing supply and placing the Government’s 300,000 homes per annum ambition further out of reach.

Encouraging the next generation of housebuilders is vital to increasing the supply of new homes across the UK, and will also increase the number of SME’s and diversity within the sector.

SME housebuilders face tough battle ahead as growth and delivery projections fall. A new survey by the Home Builders Federation (HBF) and Close Brothers Property Finance.

One of the most comprehensive surveys of Small and Medium Enterprise (SME) housebuilders, conducted by the Home Builders Federation (HBF) and Close Brothers Property Finance, has found that:

Two thirds of SME housebuilders (65%) have said their growth projections are down due to COVID-19

76% of SMEs use Help to Buy and the regional thresholds are expected to prove to be a barrier, with a number of respondents highlighting challenges in their specific regions

Planning delays and securing permission remain a major barrier to housing delivery over the next 12 months, according to 83% of respondents