Meet the Expert: Natalie Smith

Briefly tell us about your role and what you do…

I have worked as an Area Sales Manager for 7 and a half years now, and work under the Finance For Industry brand within Close Brothers Asset Finance across the East of England. In my role I work directly with manufacturing and engineering businesses as well as with machinery dealers and manufacturers to provide the best finance solutions for all customers.

A large proportion of my job involves me discussing new business opportunities directly with the end customer, which allows me to visit their factory and get a detailed understanding of their business and their funding requirements. As we’re able to cover a diverse range of machines, I’m always talking to people in different sectors – one day it could be a precision engineering business and the next day a drinks manufacturer!

What was your journey to Finance For Industry?

I started with Close Brothers Asset Finance straight after graduating from University in Leeds in September 2015 and was on the first intake of their now very successful Sales Academy Programme. I had no previous experience of banking or asset finance, so joining via the Sales Academy allowed me to learn on the job whilst completing classroom-based training to help with sales techniques and the fundamentals of financing machinery.

After graduating from the Sales Academy I worked in the manufacturing team before transitioning across to the Finance For Industry team a couple of years later. Looking back over my journey with Close Brothers Asset Finance and Finance For Industry, I have gained an enormous amount of confidence and expert knowledge in the manufacturing and engineering sectors, and gained some fantastic, long-standing connections along the way.

What’s your favourite part of the role?

The best part about my role is how different each day can be, which is down to us having the ability to deal with all types of businesses and customers. I have been able to visit large corporate companies, smaller family run business and sole traders, this has helped me to understand the different successes and challenges they all face.

It’s great to work alongside all types of businesses and watch them grow over the years, and be able to provide funding solutions as and when required to help them on their journey. The longstanding relationships I have built with many customers over the years is very rewarding, and it’s fantastic to watch their manufacturing capabilities evolve over time.

Outside of work, how do you like to spend your time?

It’s safe to say I am a fitness enthusiast and spend plenty of time in the gym or out on long walks in the countryside with my dogs. I’m also a very keen reader so you’ll always find me with a novel or two close by.

Can you give us an example of a time where asset finance has helped one of your customers?

A number of examples immediately come to mind, but one that sticks out is a window frame manufacturer I started working with at the start of 2023. When I was introduced to the directors, they explained that they bought in and sold their current products, however as they were so busy they could see the value in manufacturing themselves and taking full control of each project. They had been very pro-active in finding a new unit and sourcing the machines they needed to buy, for which asset finance was vital.

We agreed a finance deal on 5 machines early in the year, but their growth was so fast that we funded another machine a few months before Christmas. Since then, our Transport team have funded a vehicle for them and I am currently in talks to fund a much larger machine in the next few months. This is a great success story and shows just how helpful asset finance can be for the growth of a business.

What assets have you found are the most ‘in demand’ at the moment?

There’s plenty of activity in the market at the moment across a lot of different sectors, but those in woodworking and engineering seem to be especially busy – lately I’ve been looking at lots of agreements for saws, edge banders and large CNC machines, which indicates that there is plenty of work to be done as well as lots of appetite for UK companies to continue with their growth and investment plans, which is very encouraging to see.

What do you think 2024 holds for the manufacturing industry?

Despite there being some economic challenges, I do think the manufacturing industry will continue to be busy this year. Talking to the dealers and manufacturers I work with on a daily basis, there are still plenty of enquiries for both new and used machines which indicates that investment is still at the forefront of peoples’ minds.

There are a number of big trade shows that we will be present at again this year, and all are expected to be busy with both customers and well-known manufacturers and dealers. Speaking with my customers, it’s clear that they are keen to progress with their growth plans and are open to discussing all funding options available to them to help them along the way. As we can offer Hire Purchase, Lease and Refinance, I am confident that we will continue to find suitable funding solutions for all our customers.

What are you most looking forward to at MACH 2024?

MACH 2024 is set to be a great show, and our Close Brothers Asset Finance/Finance For Industry stand design looks fantastic! I’m definitely looking forward to catching up with existing customers, hearing about how their business has been over the last few months and discussing their plans for 2024, as well as meeting plenty of potential new customers and discussing ways in which we can help them press ahead with ordering their next machine.

I’m also excited about catching up with the dealers and manufacturers I work with directly and watching the demos on their latest machines and hearing about any changes to their machines’ capabilities. Trade shows are fantastic for getting an insight into what’s going on in the market day-to-day and in real time, so I’m looking forward to having plenty of conversations!

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