Logo

Click here or the below image to view December’s month of ‘Diversification and Finance’ as part of our Time to Plan project.

View in Welsh on FarmWell Wales: click here.

As part of our Time to Plan project, throughout the month of December we will be focussing on the topic of ‘Diversification and Finance’.

This section on ‘Diversification and Finance’ will help in the long term development goals of a farm business, how farm resources can be utilised to survive in a competitive and changing market. Financial management skills can support in improving the farm businesses profitability and flow of work.

We will be posting regularly from the FarmWell Twitter and Facebook pages.

NFU Mutual’s 2020 Diversification Report

NFU Mutual’s 2020 Diversification Report explores the latest trends, insights, and analysis to help UK farmers explore opportunities for the future.
NFU Mutual Farming Diversification, click here.

How to get your lender to say YES! with Mark Lord of Berrys

Getting a Lender to say “yes” can be a challenge despite a strong asset base as all Lenders want to see that the potential loan can be serviced comfortably as well as well secured so they can be sure they are lending responsibly. Mark Lord of Berrys explores what you do need to cover off when making a proposal to a lender.
Click here or the image to read the full article.

Ten-step process for planning the future of the farm business with Jeremy Moody (CAAV)

Jeremy Moody, Secretary and Adviser for The Central Association of Agricultural Valuers (CAAV), sets out a ten-step process for planning the future of the farm business.
Click here or the image to read the full article.
Visit the CAAV website: click here.

Diversification or distraction with Sarah Baker, Strategic Insight Manager, AHDB

With the recent announcement on English Agricultural Policy post-Brexit, and the news that Direct Payments will be reduced by around 50% by 2024, farmers will be examining their businesses to work out how they can fill that funding shortfall. Diversification would seem one such solution.
Click here or the image to read the full article.
AHDB Direct Payment Calculator
Preparing for Change: The Characteristics of top Performing Farms

Diversification: A common sense strategy with Simon Bruce, Partner at White Bruce Sustainable Rural Development

Successful businesses cater for markets as they change, whether that is seasonally or structurally. Simon Bruce of south west business consultancy White Bruce, explores some of the challenges (and solutions) of diversification.
Click here or the image to read the full article.

Preparing the smaller farm for Making Tax Digital with Simpkins Edwards LLP

Preparing the smaller farm for Making Tax Digital with Jo Tope, partner with Simpkins Edwards LLP. Jo Tope discusses taking the hassle out of farm finances and Making Tax Digital for smaller farms.
Click here or the image to read the full article.
Click here to read the Simpkins Edwards LLP Agricultural Addition Issue 26 Spring Summer 2020.
Click here to view the Simpkins Edwards LLP Agricultural Contacts.

Q & A with fifth generation farmer and FCN volunteer Sam Burge on the diversification of his family farm

Sam Burge, fifth generation farmer and FCN volunteer, shares some insights into diversification enterprises at his family farm in Hampshire.
Click here or the image to read the full article.

Trailblazers: Getting Started as a Rural Professional with an Apprenticeship

In this interview, Thomas Saunders, Berrys, discusses how his apprenticeship is setting him up for a career in agriculture.
Click here or the image to read the full article.

Tractor Wheel of Life

A healthy and resilient business is all about balance. 2 Minute Farmer has identified 10 areas that contribute to a balanced farm life. All these areas are interconnected, but thinking about them separately will help you to prioritise which areas to be proud of and which areas to work on.
The self-assessment tool is called the ‘Tractor Wheel of Life’ and was developed by 2 Minute Farmer.
2 Minute farmer is a research project spearheaded by Duchy College’s Rural Business School, with support from Agri-tech Cornwall and Isles of Scilly project which is funded by the European regional development fund.
To download the Tractor Wheel of life click: (Livestock version) & (Arable version).
To find out more and visit the 2 Minute Farmer website, click here.

The rise of farm diversification and what to consider | CLA

Two thirds of all UK farms already use some form of diversified activity to add to their income, according to DEFRA and farming is changing rapidly with more farmers looking to diversity to survive, often providing services which are far removed from the core business.
This CLA blog explores what to consider when diversifying, click here to read.

Diversification isn’t always an easy fix, with Christine Thompson, Chair of IAgSA

Diversification has provided many farm businesses with the opportunity to either replace the loss of other income or merely to increase the profitability.
However, the idea that it provides an easy “fix” for all your problems is not always true and it is certainly not for the fainthearted.
Christine Thompson, Chair of IAgSA, explores some important considerations. Click here or the image to read the full article.