More than 60 per cent of farms surveyed did not have a formal written business plan, while almost 80 per cent had not accessed external advice. A major obstacle since the UK's exit from the European Union are regulations and red tape. “Careful medium-term planning, and building in the headroom to innovate, remain essential tactics for farms’ survival just as much as for other rural businesses, in these challenging times. “Our evidence that farms are less likely than other rural businesses to engage in formal business planning and seek advice highlights a potential future risk, as farms position themselves to cope with the ongoing transition process and slow roll-out of the new schemes." NICRE’s findings regarding farmers’ lack of business planning ring true for Exmoor Farmers Livestock Auctions Ltd which offers support to local farmers, helping them submit applications for the Basic Payment Scheme, Countryside Stewardship Scheme and other grants.

Source: Express September 11, 2022 20:07 UTC