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New business review service helps farmers prepare for Brexit

May 15, 2017 by  
Filed under Property

JamesBrown-Brown&Co

Rural consultants and land agents Brown & Co have introduced a new service to help individual farmers and agricultural businesses prepare for the possible impacts of Brexit.

Fit for the Future is a broad-brush strategic review that aims to identify the main issues that affect a business and how these might be managed to cope once Britain’s EU membership ends.

“The new scheme will provide a good starting point for farm businesses to prepare for the future in what is already a turbulent agricultural market,” says Brown & Co agri-business consultant James Brown (below).

“It is entirely possible that direct subsidy payments will reduce from 2020, so investigating ways of farming without reliance on current levels of support or identifying ways to replace that income is of paramount importance.”

Opportunities

Change may seem daunting, but farmers who identify the key opportunities and threats to a business and act accordingly will be best-placed to deal with any eventuality, says Mr Brown.

The first part of the assessment consists of a half-day visit by a Brown & Co consultant to the business. It will include a review of the farm structure and an assessment of its physical and financial assets and performance, including the contribution of single payment receipts to profit.

It will also identify business objectives and end with brain-storming session to identify opportunities that could improve and protect the business, says Mr Brown.

“The consultant will draw up a list of recommendations from the information gleaned in the first visit, before returning to the farm to go through these in turn. These recommendations will include immediate actions or strategies that could be adopted, as well as areas that would benefit from a full business review.”

Farm types

The scheme, which costs £500, is targeted at all farm types and will be delivered from each of Brown & Co’s 11 offices in the UK. It will be delivered by both the land agency and agricultural business consultancy departments, ensuring all potential opportunities are identified and explored.

“The scheme is open to all farmers, whether they are existing clients or not, enabling all farm businesses to get access to professional advice at an affordable rate,” says Mr Brown.

“At the least such access will help confirm or challenge ideas that a farmer may already be considering. It is also very likely to open up avenues that may currently be off the radar, helping farm business take full advantage of the opportunities that all change brings.”

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