For or against, most people have a view on Brexit and whether it’s going to be good bad or just ugly.
There are some key areas farmers and rural business owners need to consider over the next 12-18 months to make sure their business is well placed and as strong as possible as we enter this period of uncertainty.
Grab the final EU Grants – It seems unlikely that a post Brexit UK government will have such a large agricultural pot to share out. This is therefore possibly the last year to look at the sort of EU grants the farming sector has got used to. Grants are about for different things and with different rules and requirements but the money definitely is there for those who wish to have a go. All grants should be carefully reviewed and Lys Thomas our grants expert summarises these inside this issue.
Rent reviews – As uncertainty persists now is not the time to be agreeing to significant rent increases. Commodity prices have risen, but mainly on the back of currency and not due to any fundamental shortages. This trend could therefore be short lived.
Restructure and Succession – There is an opportunity for some to get on with forward planning whilst the industry is relatively stable. Any dramatic change to the Basic Farm payment, tax breaks or farm gate prices could put a strain on the delicate economic balance and so decisions made now will probably be easier than in a few years’ time.
Diversify whilst planning supports – Planning policy remains largely in favour of small scale farm diversification in its various forms. Most of the policy came as a reaction to stimulate the economy and so at some point, when the economy picks up, this is likely to be tightened. As getting planning consent is often a long winded process we suggest starting early.
Carver Knowles can assist with all aspects of rural business resilience so if you have any concerns or ideas please give us a call today 01684 853400.