MIPIM VIDEO | How SMEs can lead the charge for 1.5m new homes
Small and medium sized housebuilders are uniquely placed to play a starring role in addressing the UK’s housing crisis and contribute to the government’s ambitious homes target, according to Andrew Evans and John Wybar of VM Finance.
Place North caught up with VM Finance, which provides funding to SME developers, to discuss the benefits of giving them a bigger say in the nation’s housing conversation.
“SMEs are able to look at opportunities that others might not be aware of because of their localised knowledge,” VM Finance deputy chief executive Andrew Evans said.
“Not only do they have special insight based on local knowledge, they also have a vested interest because they are from the community.”
Uncertain delivery timescales and tighter margins mean that SMEs require flexible funding approaches and long-term partnerships with their lenders. Sometimes, giving clients more time to deliver on their vision can pay off.
“[If you do that] the chances are they will stick with you and they will remember what you did for them in that moment,” said John Wybar, VM Finance’s head of business development.
The benefit of backing SMEs in this way is the resultant outputs: namely, developments with “heart”.
“SMEs often develop within their own communities so they are not just developing a product, they are building something for the community,” he said.
You can watch the video at the top of this article or on the Place North YouTube channel.
