One-fifth of farmers plan to diversify

[The Business Barn]

One in five UK farmers plans to diversify to remain financially sound after Brexit says new research.

Conducted by NFU Mutual, the research found that of the 62% of UK farmers who have already diversified, over nine out of ten projects have been financially successfully, showcasing the increasingly important role of diversification in the sustainability of many farm businesses.

Farmers with established diversification businesses were surveyed by NFU Mutual to gain insight into their experiences, as well as farmers currently solely involved in farming activities to understand their attitudes and plans for future diversification.

The most common diversifications to date include:

• Renewable energy (29%)
• Property letting (15%)
• Holiday lets (12%)

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[Andrew K]

They need to loosen up planning rules a little, too much influence from poorly informed committees tends to frustrate applicants IMO.

 

[Tom_o_m]

I'm surprised it isn't more. Although there is a big gap between planning to diversify and actually diversifying. My folks planned to diversify right up until the time they sold up and retired.

 

[steveR]

Wheat, Wheat, Bungalows for letting

 

[Spud]

I would say iro 80% of farms in this area already have some form of diversification, and have had for many years now