New research conducted by NFU Mutual has revealed that more farmers are planning to start diversifying activities.
The diversification investigation shows that the number of farmers planning to start diversifying in the next five years has risen to 17%, up 2% from 2023.
Those already undertaking diversification enterprises plan to develop them further also, up 3% on 2023’s findings.
On average farmers were accounting that 13% of annual turnover comes from diversification enterprises, with renewable energy remaining the most popular form among those in UK agriculture. Again, climbing 2% to 8% with those surveyed operating schemes such as solar power, wind turbines or anaerobic digesters.
Chris Walsh NFU Mutual farm specialist said: “Farmers are hardworking and innovative by their nature, and this is helping to create diversifications which complement their farming activities and make their businesses stronger.
“From vineyards and wedding venues to solar farms and wind turbines, farmers are making the most of the resources available on their land to make their businesses more sustainable. In many cases, they are also providing career opportunities for farmers’ families, while creating rural jobs and boosting local economies.”
Chris highlighted that diversification was not an instant solution and to be successful schemes required careful planning, good management, and long-term commitment which fit with a farms business.
“For the vast majority of farmers, running a diversification business is a way of supporting their farming enterprise, as EU legacy Basic Payment Scheme (BPS) support is phased out.” he said.
“There are some fantastic success stories out there, such as English wine producers becoming some of the world’s highest rated, also fantastic wedding venues, and hugely popular glamping sites.
“To help farmers plan how to incorporate diversification into their agricultural businesses we have developed a Diversification Hub with a wealth of information and a range of case studies showcasing successful schemes.”
MORE NEWS|https://www.thescottishfarmer.co.uk/news/24650658.arlas-fresh-dairy-initiative-food-charities/
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