Know How / Finance

A good grasp on the costs of production can often be what sets the best performing farms apart from the rest. See how benchmarking and budgeting information can be used to help strengthen your financial management and manage cashflow. Plus, get expert advice on how to access finance.

Practical advice

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BUSINESS MANAGEMENT

What are the key traits of top-performing arable farms?

High input costs, volatile markets, challenging weather and reduced direct support payments are all affecting the bottom line for farmers, making it imperative that businesses focus on improving performance and…

BUSINESS CLINIC

Business Clinic: What are the options for our cash surplus?

Whether it’s a legal, tax, insurance, management or land issue, Farmers Weekly’s Business Clinic experts can help. Joe Spencer partner at accountant MHA and Scott Kent, chartered financial planner at…

BUSINESS

Analysis: Falling farm borrowing figure masks sector stresses

Lending to agriculture at the end of April stood at £18.009bn, a fall of £857m on the year. However, this masks the position of many individual businesses, especially in the…

FINANCE

Guide to hedging, futures markets, and risk management

Professor Joost M.E. Pennings of Maastricht University and Wageningen University in the Netherlands offers an insight into the uses of commodity risk management for farm businesses. Visit the Farmers Weekly…

BUSINESS

How to safeguard against internal fraud on farms

Internal fraud is the official term for when employees – or even family members – are dishonest, usually with financial, and possibly reputational, consequences. This might involve someone with access…

BUSINESS MANAGEMENT

15 fresh ideas for making money or cutting costs on farm

Higher working capital requirements will put a squeeze on cashflow for many farming businesses this year, so finding ways to generate new income streams or save time and money could…

FINANCE

Farm borrowing advice in a cautious economic climate

The 0.5 percentage point rise in the bank base rate to 4% last week adds £5,000 to the cost of every £1m of UK farm borrowing on variable rates. Bank…

BUSINESS MANAGEMENT

Advice on managing farm business cashflow

Businesses that manage cash efficiently usually require less working capital, are not as vulnerable to trading peaks and troughs, and are able to obtain more competitive credit terms than others.…

BUSINESS MANAGEMENT

Free service offers farmers help to resolve bank disputes

Farm businesses trying to settle banking disputes dating back to 2001 have six months to register those complaints with the Business Banking Resolution Service (BBRS) and get free advice. The…

AGRICULTURAL TRANSITION

Tips to keep farms profitable in face of rising inputs

Six experts give their top tips to ensure farm businesses remain profitable in the face of rising input costs and volatile commodity markets See also: How to stress-test your farm business…

AGRICULTURAL TRANSITION

How to stress-test your farm business against high inflation

Soaring input costs are putting a severe strain on farm cashflows – but growers and livestock producers can take steps to lessen the impact of rising ag inflation. With little…

ARABLE

Advice for arable growers with stewardship ending this year

Take the opportunity to replace expiring Countryside Stewardship schemes with new, enhanced agreements while you still get paid to participate, farmers are being advised. Rather than just extending an existing…

PAYMENTS, SCHEMES AND GRANTS

Lump sum and delinking raise tax and timing questions

The tax and timing considerations for the Lump Sum Exit scheme and Basic Payment Scheme (BPS) delinking announcements need careful consideration and more information is needed from Defra, say advisers.…

BUSINESS CLINIC

Business Clinic: How can I get better value from insurance?

Whether it’s a legal, tax, insurance, management or land issue, Farmers Weekly’s experts can help. Esther Kane of insurance broker A-Plan Rural sets out how to approach an insurance review.…

ARABLE

How growers can qualify for new SFI soil payment scheme

Most arable growers should be able to qualify for a £40/ha payment from the first tier of a new environmental scheme by looking after their soils and so helping to…

CROP MANAGEMENT

How growers can plan with support worth only one-third of BPS

Arable growers looking at new “public money for public good” environmental schemes are likely to earn only one-third of their current area-based subsidies, which are being phased out. This funding…

PAYMENTS, SCHEMES AND GRANTS

Farming Investment Fund grants – what's on offer?

The Rural Payments Agency (RPA) has set aside £27m to help farmers in England improve efficiency and deliver environmental benefits. That sum will have to fund individual projects of up…

BUSINESS

Tax and money management tips for diversified farm businesses

Many new diversification ventures have been set up in the past 18 months, often relating to threats or opportunities brought about by the pandemic. Farmers Weekly asked advisers for their…

Insights

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BUSINESS MANAGEMENT

Profits squeeze will hasten structural change in farming

Costs are lower in general than a year ago, but still at elevated levels, while output values in several sectors are down considerably. UK farming is likely to see big…

MARKETS AND TRENDS

Farmer survey shows knowledge gap on futures contracts

Farmers Weekly carried out a survey to find out the extent to which UK farmers use futures and options markets. The survey received 85 responses and of those only 42%…

FARM POLICY

New Welsh farm support scheme majors on tree planting

Farmers in Wales will need to have at least 10% of their land planted with trees if they want a baseline payment from the new Sustainable Farming Scheme (SFS). Details…

BUSINESS

SFI fails to impress Farmer of the Year, but CS is a runner

Managing soils ranging from heavy clay to Breckland sand provides plenty of challenges, with the move away from the Basic Payment Scheme (BPS) demanding reviews of cropping and land use…

FARM POLICY

Farmers reveal ‘brutal’ treatment at hands of RPA

Farmers are calling for the Rural Payments Agency (RPA) to carry out a root-and-branch review of how it manages agri-environment schemes amid concerns that hundreds have been unfairly penalised with…

ENVIRONMENTAL SCHEMES

Countryside Stewardship – key changes for 2023 agreements

The Countryside Stewardship Scheme (CSS) is now open for applications for agreements with a 1 January 2023 start date. Farmers Weekly highlights the key dates farmers need to know about,…

AGRICULTURAL TRANSITION

Productivity: What it is and how to achieve it on your farm

Forward-thinking farmers must be more efficient and sustainable to meet the multitude of challenges heading their way – including increased competition in a global market. An increase in productivity is…

PAYMENTS, SCHEMES AND GRANTS

Who will benefit from Countryside Stewardship rate rise?

Payment rate increases for Countryside Stewardship (CS) may make the scheme a more attractive and viable option for farmers in England looking to offset basic payments cuts, say land agents.…

AGRICULTURAL TRANSITION

Landscape and Local Nature Recovery: What farms need to know

Defra secretary George Eustice is set to unveil plans at the Oxford Farming Conference (OFC) for two new Environmental Land Management (ELM) schemes which will pay farmers in England to…

BUSINESS

Farm business outlook 2022: Economic prospects

Global economic disruption due to Covid, coupled with Brexit-related upheaval in trade and labour markets, will continue to affect the UK economy for many years, says Graham Redman, a partner…