There is a considerable amount of pressure on modern-day farmers. Intensive farming methods, poor trade prices and subsidy cuts mean many farmers have to diversify to supplement the income from their crops and livestock. Fortunately, there are several ways in which farmers can generate additional income.
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Why Should I Diversify My Land?
There are several compelling reasons for farmers to diversify. In the UK, it has become harder and harder to make a living from agriculture, and supplementing income from other methods provides farmers with the additional support they need to maintain their land and livestock.
It is estimated that, in the past decade, as many as half of the country’s dairy farmers have been forced out of business due to falling milk prices. In addition, disease and funding cuts have made farming a tough occupation.
What Are the Best Ways to Diversify Land?
These are some of the most popular ways in which farmers have been expanding; however, they do not represent the only options. Depending on location, there is a lot of potential to open up the farm and create tourism and accommodation opportunities.
Alternatively, other methods can be considered, such as manufacturing products in-house. Not only does it cut out the middleman, but the final product made from raw materials, such as cheese or wool, is usually worth a considerable amount more than the material and manufacture cost. Furthermore, products that can be labelled as organic or artisan sell well at farmers markets and in local stores.
How to Get Started?
The good news is that it is probably much easier than you think to begin the process of diversifying. Often, planning permission will need to be obtained for the addition of buildings or the conversion of existing outbuildings. A good business strategy should be in place so that marketing, costs and workload are all considered.
At Martin Perry Associates, we understand the need to support hard-working farmers and diversify to make an income. For more details on how we can help you to develop your land, including inspections and structural engineering in Plymouth and the West Country, please contact us today.