Farming Diversification

With over 100 years supporting the farming community we’ve seen a lot of change so we understand the importance of diversification to the farming industry.

Diversification Podcasts

We have released a series of podcasts (Ahead of the field) on diversification and the first is from Lyndon Farms where they run a successful agri-contracting business.

The series will cover topics on food & drink production, farm shops and restaurants and hospitality. Listen to our podcasts using the Soundcloud link below.

You can also listen to our "Ahead of the field" podcast via Apple Podcasts or Google Podcasts.

               

Podcast Guide [pdf: 1MB]

DIVERSIFICATION REPORT

The report is from a survey of farmers with established diversification businesses as well as those solely involved in farming activities. The headline stats are that over 60% of farms have already diversified with 90% of those saying that diversifying has been a success. Of the remaining farms who haven’t diversified 20% of those are planning to diversify in to other enterprises to support their farm business after Brexit, whereas 67% still believe farming provides the best potential for their holding. 

Download a copy of our Diversification report [PDF: 1.4MB]

Our Farm Select policy can cover a wide range of diversified businesses, and your local Agent is on hand to discuss whether diversification is for you.

Key Consideration to Diversification

  • Why you want to diversify
  • The implications on your time, your core farm business activities, cashflow, staffing, potential liabilities etc.
  • Information about skills, resources and market conditions that you have gained from other local farmers who have diversified
  • How much the diversified business will cost to set up
  • How you will finance it
  • How profitable it will be
  • How to market it
  • Legal requirements, tax and national insurance issues.