Meet the Expert: James Palmer

Here he discusses his favourite part of the role and his predictions for the sector over the coming 12 months.

Briefly tell us about your role and what you do…

I am currently a Regional Sales Manager within the Agriculture team at Close Brothers Asset Finance. I work with farmers and businesses across the Midlands to help grow their business by using asset finance.

What was your journey to Close Brothers Asset Finance?

I am a farmer’s son, so I was almost destined to end up in the Agricultural industry. I have worked within the industry for my whole life in various roles, from cowboy in the USA, through to a fertiliser specialist. I then transitioned into the sales side, working as a combine harvester Sales Manager in the UK. I also worked for the second largest tractor manufacturer in the world. Following on from this I began my journey in Agricultural finance, a journey which has so far spanned over 10 years. Whilst in my previous role, a recruitment agent contacted me about a role within a brand-new Agricultural team at Close Brothers. This opportunity sounded too exciting to pass up and here I am, ready to work with customers to help grow their business.

What’s your favourite part of your role?

The best part of my role is working with customers to find a solution that will help them purchase equipment and assets they need to grow their business. The opportunity to go out and meet my customers offers me a good variety within my role as often no two days are the same!

Give us an example of a deal structure that demonstrates how you can you help a customer

We had a customer who was looking to buy a tractor through a manufacturer who we work closely with. After putting together a great deal structure that was at a lower cost than the customer thought, they decided not only to buy the tractor but several attachments as well. The customer was very happy as they could afford to buy more than they thought, and it helped solidify our relationship with the dealer as they had sold more machinery.

What are your top 2 predictions for your sector in the coming 12 months?

I think that within the Agricultural sector we will see two growth areas. First, I think there will be growth in Agricultural diversification. This will see us financing more renewable energy projects such as solar and wind turbines, we will also end up financing more assets such as glamping pods. Second, I think we will see growth in the number of customers looking to structure deals in a more efficient way to suit their cash flow. I believe this will involve the more traditional customer looking for payment profiles that are more structured to match the income stream from their business.