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3 Reasons Now Is a Good Time to Diversify… If You Haven’t Already
It’s common knowledge that due to the uncertain future of agricultural policy, increasingly volatile commodity markets and rising input costs, many farmers are looking towards alternative opportunities and income streams. An additional concern for the UK agricultural industry is the decrease in demand for meat and dairy products caused by intense focus on climate...
The Benefits of Renewable Energy Diversification
The current compound annual growth rate (CAGR) of the UK renewable energy market is currently 9% and growing. This, amongst other things shows increasing progress towards the UK government’s “Net Zero Strategy: Build Back Greener”. The recently published document (October 2021) established a target of meeting greenhouse gas (GHG) net zero by the year...
Ideas to Inspire Your Farm Diversification This Year
It’s the start of the new year. You may be thinking “what can I do to drive my farming business forward in 2022?”. Whilst considering the various things you’d like to do, perhaps farm diversification was a priority? A valuable way of gaining resilience in an otherwise volatile industry, farm diversification covers an abundance of opportunity. Need...
Farm Diversification & Generational Relationships Within the Family Farm
The Agricultural Transition Plan mentions intended support to new entrants through the lump sum exit scheme and funding for new land access channels. However, this support for new entrants is largely unclarified at this stage. Therefore, many young people interested in rural business will look towards there family farm.
As the agricultural industry evolves, it seems to be...
Farm Diversification on Tenanted Farms
The tiered reduction of Basic Payment Scheme (BPS) subsidies and the ongoing lack of clarity surrounding the Environmental Land Management subsidy grow increasingly prevalent as time progresses towards 2027. As a result, non-agricultural income in the form of diversification appears to be increasingly appealing as a means of reducing financial risk.
Owner-occupied farms,...
Is a Joint Venture Partnership the Answer to Your Diversification?
Often, diversification on farm may cause an increase in workload, a requirement for new skillsets or even capital.
One potential opportunity to fulfil these requirements could be a joint venture partnership. Many farms are familiar with this term and business structure, due to the increase in agricultural joint venture partnerships in recent years, in an attempt to reduce...