New entrant generating capital through crowd funding

ridger · Sep 14, 2014

It's not really that we are attacking, it's just a bit hard to see how it could work. But you must have faith in it or you wouldn't be at it! If I was you I'd get a potato harvest job, stand on back of harvester, it could open doors for you. You might not want to do it but it will do no harm. I had a drug Addict on the back of my harvester about 7 years ago, they were on it one severely cold day and decided that the drugs weren't worth spending such hard earned money on. Gave up the drugs and turned their life around. That's nothing to do with you of course but it's a great way of meeting people

Getjackfarming · Sep 14, 2014

I fully embrace the fact that this is a new way of generating some capital in Ag, and of course I fully anticipated a mixed reaction, I would be foolish not to! This is not the only avenue I know, but I have seen some people achieve phenomenal success in other projects on my chosen site, and thought I literally had nothing to lose by giving it a go. My ethos when to comes to success and progress is you have to be prepared to fail, some things will work and some things wont, but you have to try. If this helps even just a little financially, coupled with other methods of accessing funds, then I shall regard it as a success. I have had a huge amount of local support in the form of straw donations, offers of machinery use, inf. etc off the back of this, and have learned a lot from differing points of view as well, so it is hard for me to see this as a failure so far

Baling Hay · Sep 14, 2014

Also, by renting this land are you not going to tie yourself down geograpically at the start of your Land Agency career at a time when you really need to be geographically mobile?

ridger · Sep 15, 2014

Getjackfarming said:
I fully embrace the fact that this is a new way of generating some capital in Ag, and of course I fully anticipated a mixed reaction, I would be foolish not to! This is not the only avenue I know, but I have seen some people achieve phenomenal success in other projects on my chosen site, and thought I literally had nothing to lose by giving it a go. My ethos when to comes to success and progress is you have to be prepared to fail, some things will work and some things wont, but you have to try. If this helps even just a little financially, coupled with other methods of accessing funds, then I shall regard it as a success. I have had a huge amount of local support in the form of straw donations, offers of machinery use, inf. etc off the back of this, and have learned a lot from differing points of view as well, so it is hard for me to see this as a failure so far

Is your course livestock or crop based?

ridger · Sep 15, 2014

ridger said:
Is your course livestock or crop based?

Might seem a silly question but we have no independent agronomists over here, they are all employed by chemical retailers, I for one would pay to have the crops walked

Getjackfarming · Sep 15, 2014

I don't really know what you're suggesting? Become an agronomist instead?

ridger · Sep 15, 2014

Getjackfarming said:
I don't really know what you're suggesting? Become an agronomist instead?

What's your course in

ridger · Sep 15, 2014

If I had time id do an agronomy course, I don't even know how to go about getting one. It would be handy enough money I'd imagine to build up your business

Baling Hay · Sep 15, 2014

ridger said:
What's your course in

Training to be a Land Agent.

ridger · Sep 15, 2014

A man I take land off heard about the new sfp or whatever it's called, came out of his house and said, I'm going to start farming next year, I'm really looking forward to it! Somehow I can't see him lasting too long

Getjackfarming · Sep 15, 2014

Lofty1984 said:
Just ignore the negativity pal no one likes to see someone else succeed granted it's an different way to go about help! Anything is worth a shot

Cheers chap

Getjackfarming · Sep 15, 2014

ridger said:
If I had time id do an agronomy course, I don't even know how to go about getting one. It would be handy enough money I'd imagine to build up your business

To become BASIS, FACTS, SOYL etc qualified over here costs thousands, and would start taking down a route I don't really want to go down and financially doesn't make much sense

slaney · Sep 15, 2014

Nothing to do with your idea of raising funds

But

I know a man who bought cull mountain ewes and ran them on dairy ground, took out the sheep that weren't fit for a ram and leased a few bfl's off of a neighbour to sell mules from. He said that the ewe covered her the price he paid when he killed her. The ram lamb covered most other costs so he was left with his mule ewe lambs as almost pure profit. He's now a very large farmer and employs alot of people.

S J H · Sep 15, 2014

ridger said:
Iv quite a high stocking rate, have 28 calves on 6 acres,

Steakeater said:
Training to be a Land Agent.

Why are you trying to get into farming then @Getjackfarming? Have you not got a student loan to pay back?

Headless chicken · Sep 15, 2014

Getjackfarming said:
I don't understand why you feel the need to attack like this just because I'm trying a method hardly used in agriculture before?

If you feel attacked now imagine how you would feel when your sat in the bank managers office going for a loan or trying to explain why you didn't make a profit this year.

Out of curiosity in your time at harper how much money did you spend on non essentials? Such as how many nights were you out ?

llamedos · Sep 15, 2014

There does seem to be quite a few crowd funded Farms out there, BUT they are all community farms and all seem to have put a substantial amount of their own cash up front to start with.

Strawberry roan · Sep 15, 2014

llamedos said:
There does seem to be quite a few crowd funded Farms out there, BUT they are all community farms and all seem to have put a substantial amount of their own cash up front to start with.

I read a book about a farm that was going to get built on buy muller and the son and daughter bought it by selling shares in it, there was some sort of dividen in place for the shareholders I think? Michael Blanche the Nuffield man reckons the interest free card and older ewes is the way he started, a family loan with a better rate for them than the bank paid with a standing order is another one I've done, it's tricky , they say but legs not metal but you also become a mithering twxt to everyone trying to borrow gear so you've got to be prepared to pay people to top etc. Id consider using a week or two of your holidays going lambing somewhere decent to get a bit of sheep experience and consider a bit of dog and stick farming. People always seem to give a young lad a chance doing that, a paddock here, a bit of wintering there etc, send em half a lamb at x mas , itl go far. If you land a job local at a land agents youl be first to here about farms getting sold to people who just want a bolt hole so if your set ups respectable looking you can approach them. Learn to like sheep is my advice, short term any way!go on you tube and watch seabrooks year! All sorts of broken mouth cronks on their , land away from home but bouncing Suffolk lambs to sell every summer.the problem with cattle is all the infrastructure required when your starting off, sheep job required an old ford ranger , an old Ifor trailer, an old race , 20 old hurdles and a half decent dog plus sheep and a plan. I always think normal people have no qualms about borrowing 16 grand for a car wich only drops in value. What ever you do , get the ball rolling before you buy your first house or get engaged or the brakes might be applied! Let us know how you get on. When does your grazing licence or whatever it is start?

Sheep · Sep 15, 2014

Out of interest, are you from a farming background?

2tractors · Sep 15, 2014

Given your degree I assume you have a fully costed business plan including a monthly budget for your living costs, this should make it clear that even if you raise the funds through donation the business is not likely to offer enough profit without off farm income- you will need a job.
Once you acknowledge that you will be in a position to move forward on your plan.

My strategy would be get the £4000 donations (you will need to run a very intensive social media campaign to achieve this), then using your business plan apply for a Start Up Loan (straightforward up to £7,500 but larger loans available. 6.2% interest (no security needed -PM if you want details).

If the land is available to apply for the Basic Payment scheme in 2015 you need some entitlements, either buy (should be a surplus around given 18,000 claimants of the Single Farm payment with areas under 5 Ha will be in eligible for BPS or have a punt on the National Reserve ( no details yet as far as I am aware- others may know better) With the entitlements you will be able to apply for the Young farmers Scheme (which offers 25% extra on the Basic Payments for 5 years for under 40's).

Good luck- you will need it, but with hard work you just might make it!

S J H · Sep 15, 2014

I've just read the crowd tub post fully. Do people donate rather than loan the money?

My main concerns would be-

10 calves for 50 acres?
Why are you paying rent now rather than later?
Why are you starting on the winter?
Where are you going to house calves?

If you want to rent 50 acres. Tell the landlord, that you'll have it, but pay in a few months time. Offer sheep farmers tack grazing to pay for the rent, if you can lamb them, and strike a deal to keep some lambs or old ewes back.

New entrant generating capital through crowd funding

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100% I’ve had enough of farming!

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