As the UK creeps closer to separating from the EU, there have been many questions circulating about the stability of farming in the UK. With the uncertainty brought about by falling subsidies and land prices has brought the need to diversify to the forefront of rural business needs.
The idea of diversification can be overwhelming to consider, especially if you are thinking of moving into an entirely new area! However, there is a lot you can do to diversify your land and business with the skills and resources already available to you! FarmingUK has put together a great list of exciting was you can increase your profits which we have summaeised below.
You can take skills that you have developed within your own business and take them elsewhere! Get involved in teaching others about the industry, training animals, or use your agricultural and landscaping skills to help others.
Develop what you can do with already existing products. For example if you produce milk you could look at moving into cheese, ice cream and other dairy products. Biomass and biofuel is also a growing area that can be accessed without changing your current area of business.
If you have outbuilding that you are not using to their full potential, look into options to turn them into something that can earn you more money. The uses here are endless! From catteries and kennels to stables, art galleries and accommodation, your unused outbuildings could do wonders to increase your profits!
Your farm itself could be holding hidden potential. Farm shops and ventures like bee keeping can add extra income to your farm. While you’re at it, have a look into tourism and leisure options! Everything from riding schools, to walking tours, to shooting grounds can diversify your business and increase your income.
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