UK farmers need to focus on factors within their control during the Brexit process with the current weakness of sterling offering many farm businesses an opportunity to boost revenue according to a senior Scottish business consultant.
“For some farmers the priority may be consolidating short-term debt into long-term fixed rate loans, lowering charges and the risks from an interest rate rise,” said SAC Consulting’s Julian Bell. “Others may think about succession planning so the next generation can tackle the challenges and opportunities that may lie ahead.”
Mr Bell was speaking after the launch of his organisation’s 2016/17 edition of the Farm Management Handbook, which is being made available free, for the first time, in its online version due to the support of the Scottish Government’s new Farm Advisory Service.
The report, which includes a 10-page section on pigs, includes financial data and gross margins for livestock, arable, forage and organic enterprises; information on renewable energy, diversification projects or organics and whole farm data.
There are also sections on labour, machinery, rural aid, taxation, contracting charges, buildings, forestry and credit.
Mr Bell added that all sections had been suitably updated to take account of the changes being introduced by Brexit.