The British Property Federation always hosts fantastic events relating to current topics and issues that are affecting the the property sector. Last week was no exception and Rowland Thomas, Director at Close Brothers Property Finance, gave his expert insight as part of a panel discussion on how the Government could achieve its target of 300,000 new homes.
It's an ambitious target and and the debate addressed some of the key issues and considerations for success. However, one thing truly stood out; the challenge that smaller businesses face in overcoming red tape and the difficulties they have when entering the market. Bureaucracy is hindering SMEs and has a knock-on effect on government targets and there are suggestions that the planning system should be simplified.
As Rowland stated, we need to help support SME presence in the house building sector. The finance is there but planning reform should be considered as it's currently a firm obstacle to entering the market. SMEs are an essential part of the UK economy and we should help them mobilise into action.