FARMERS are facing the imminent end of BPS payments, dramatic inflation and rising interest rates making future business planning absolutely imperative.
Rural land and real estate specialist GSC Grays is urging northern farmers to take advantage of the free and independent farm business advice they offer through the Farm Business Advice Service (FBAS). The company is offering a series of breakfast seminars this year to help farmers formulate an action plan to address obstacles they must overcome to reach their goals over the next five to 10 years.
A key element of GSC Grays support will be a free on-site audit to allow farmers to conduct a forensic examination of their business, including a financial risk assessment.
GSC Greys’ wealth of experience and expertise will be made available across northern England as part of Defra’s £32m Future Farming Resilience Fund (FFRF) scale-up project, including a series of breakfast seminars in northern England ahead of Christmas.
Robert Sullivan, Head of Farm Business at GSC Greys, said: “One year after payments were halved, over 60 percent of farms remain unprofitable without their BPS payment.
“Combined with inflation and rising interest rates, there are real concerns for the future, and the government’s BPS advance – in response to higher prices in May – was clear evidence of how integral subsidies continue to help keep farms afloat to keep.
“Every farm is different and one size doesn’t fit all. That is why we have ensured that our CVBS program can be designed to suit the farmer and his individual situation and needs.
“More than 300 farmers have benefited from GSC Grays expertise during the previous AHDB program and have seen first-hand how invaluable household advice and other simple steps can be in preparing farms for the future.
“Our FBAS program offers farmers options such as diversification, renewable energy and tourism to find the most profitable and sustainable solution for their business.”
Farmers can get free advice through a range of options including a face-to-face service (up to two and a half days), workshops, webinars and business group meetings followed by support.
The farm breakfasts will be hosted by the GSC Grays Farm Business team, who will review performance and prospects for key sectors across the region through 2023 using model farms.
The first four Breakfast Seminars will take place on November 30th at Alnwick Gardens, Alnwick; Cafe Ambio, Rural Auction Centre, Crooklands, on 5 December; Harrogate Pavilions, Great Yorkshire Showground, December 6th; and Driffield RUFC on December 7, with more to come in the new year.
Farmers can register their interest by emailing [email protected] or by calling 03333 059059.