It is likely that the coming years will see a significant change in farming and rural areas, and we are asking the key question, are you ready?
The Brexit process is probably accelerating the changes we are seeing, but the pressures would be there nonetheless. The changes come from a variety of different areas such as the following:
1. Technological developments
2. Changing world markets and consumer requirements
3. Environmental and climate change concerns
4. Subsidy and support regimes
There might be many arguments against these concerns and changes, but they are happening nonetheless, and an effective business needs to embrace change and adapt to it.
A key question would be to ask yourself, where would your business be if you weren’t getting BPS? That will be the reality in the not too distant future.
For the last 15 years the agricultural support regime has been relatively stable, but we are now facing a radical evolution over the next 7 or 8 years. It is therefore key that everyone reviews their business, including all of their rural property assets. It is useful to step back and consider what the priorities are for you and your families future. We are encouraging everyone to make sure they are best positioned to protect and/or take advantage of what is coming.
There are a number of stages to undertaking an effective farm and asset review and it involves looking in depth at what you have, as well as projecting forward to what you might want to have in the future. You will probably need to consider your wider family and get them involved in the process as well.
Doing nothing is a choice that many will make, either actively or passively, but this will lead to others effectively making the decisions for you. We would urge people to be informed so they can make a choice about what to do, even if it is to do nothing. Planning now could mean you stay in control and save a great deal of money, rather than being forced into a situation that neither you nor your family wants.
If you would like any advice on the above, please do not hesitate to get in touch – 01684 325215 / 07814 033449 firstname.lastname@example.org