Successfully run farming businesses are usually those that are prepared to embrace change, diversify and add to their income streams, and that has never been more important than under the current climate of low incomes from conventional farming.
Farm diversification usually involves the alternative use of land and property assets of the farming business to provide additional income streams, and encompasses a wide variety of enterprises. The facilities, lie of the land, location, appetite for risk, and availability of capital are all key influences in the decisions of what enterprise to set up, but it is also important to consider your motivations, skill sets and long-term objectives as the business owner.
Conversion of redundant buildings to commercial office and/or industrial use, conversion to holiday homes, camping and caravan sites, equestrian uses, and renewable energy, are all examples of diversification enterprises that farmers undertake, and we have experience in carrying out initial appraisal, project design, implementation and management of schemes such as these.
Alternatively, businesses may look to opportunities that “add value” to existing farming enterprises. These may included the processing, packaging and sale of produce direct from the farm, as well as the innovative use of byproducts from core farming activities.
Please do contact us for an initial no obligation discussion about potential diversification opportunities that we can advise you with.