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.

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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…

PAYMENTS, SCHEMES AND GRANTS

Advice for navigating changes in farm support

The phase-out of the Basic Payment Scheme (BPS) is set to have a huge impact on farm incomes across England. After the first cuts this year, farm businesses face the…

FINANCE

CFAs need new approach in light of BPS phase-out

Contract farming agreements (CFAs) need to change to account for the impact of Basic Payment Scheme (BPS) cuts and the move to Environmental Land Management (ELM), says Gary Markham of…

BUSINESS

Budget 2021: What's in the detail for farm businesses

Broadly speaking, company tax and finance received more attention than that for sole traders and partnerships in the chancellor’s Budget last week. The so-called “super-deduction”, a new 130% first-year capital…

BPS

Exit payments: What should farmers do to prepare for 2022?

Farmers in England learned last week that Defra is planning to offer them the chance to take a lump sum exit payment in 2022 instead of collecting their remaining Basic…

FINANCE

What business interruption test case means for policyholders

Insurance policyholders who have been refused a coronavirus-related business interruption (BI) claim should have their policy wording checked to see how it is affected by the outcome of a recent…

FINANCE

How to avoid key dates cash crunch with good planning

Cashflow pinch points are likely to arise for many farming businesses in the next few months. Aside from lower yields on the arable front and rising costs of production for…

BUSINESS

£30bn support package: What it means for farmers

Farm industry leaders have welcomed chancellor Rishi Sunak’s £30bn support package, but have called for more information on how it will work in rural situations. The chancellor’s Summer Economic Update…

FINANCE

Coronavirus loan scheme: What farmers need to know

Farmers who have seen their income hit by coronavirus are being urged by the government to apply for the Coronavirus Business Interruption Loan Scheme (CBILS). This is the primary help…

BUSINESS MANAGEMENT

Coronavirus: Who is eligible for self-employed support?

New entrants and company directors may struggle to receive financial support from the government’s new scheme for the self-employed. Chancellor Rishi Sunak announced on Thursday (26 March) that self-employed workers…

BUSINESS CLINIC

Business Clinic: Should I hold on to 2019 crops?

Whether you have a legal, tax, insurance, management or land issue, Farmers Weekly’s Business Clinic experts can help. Here, Mark Chatterton of Duncan & Toplis advises on a tax question that…

MACHINERY

Advice on managing machinery costs before BPS phase-out

Arable businesses are being urged to scrutinise machinery costs and purchasing policy ahead of the potential industry changes arising from the government’s new Agriculture Bill. AHDB benchmarking data shows machinery…

FINANCE

Arable finances: What to consider after tough winter

Arable farmers with undrilled or poorly performing winter crops should consider fallowing marginal land to ease cashflow problems, say farm advisers. With more spring crops expected to be planted across…

DIVERSIFICATION

Why research is key to diversification success

Farmers looking to diversify should consider doing in-depth market research before taking the plunge, to be confident that they are giving potential projects every chance of success. Investing borrowed or…

FINANCE

Borrowing update: Has Brexit hit lending to farmers?

Farmers are increasingly uncertain about what agricultural produce will be worth in future. This is causing difficulties for businesses to generate accurate forecasts to satisfy lenders that they are fit…

FINANCE

10 tips to build a Brexit cash reserve for dairy farmers

Dairy producers should consider trimming capital expenditure and fixing costs to build up a cash reserve ahead of potential shocks from a no-deal Brexit, a dairy farm consultant has said.…

BUSINESS

What to do if you're a victim of...fraud

Cybercriminals are increasingly turning their attention to small and medium-sized enterprises including farms, because they know people running these businesses often live and work in isolation and are probably an…

Insights

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AGRICULTURAL TRANSITION

Will Defra's lump-sum exit scheme appeal to farmers?

Faced with the greatest farm policy shake-up in 50 years, farmers have been frustrated in recent times by the lack of detail about what is to replace the CAP –…

LAND MARKETS

How focus on environment over food will affect land prices

More than 70% of land in England is used for agriculture, and under the CAP the sector’s primary objective was to provide food for the population. However, a change is…

BREXIT

Trade and farm policy enter new era outside the EU

Brexit became reality at the start of the year, as the 11-month transition ended and the new Trade and Co-operation Agreement (TCA) with the EU kicked in. But what has…

ROTATIONS

Why whole-field stewardship has a place in arable rotations

A re-think of arable rotations is seeing greater integration of whole-field stewardship options, as growers look for ways to deliver both environmental and economic returns ahead of the arrival of…

ENVIRONMENTAL SCHEMES

ELM Q&A: Farmers question Defra on the detail of the scheme

Defra may have closed its latest consultation on the planned Environmental Land Management scheme, but farmers still have plenty of questions. Farmers Weekly tuned into a recent Q&A session with…

BUSINESS MANAGEMENT

How to benefit financially from your farm’s natural capital

Farmers can be paid for creating environmental benefits or maintaining natural resources that provide value to wider society. Speaking during a webinar for the inaugural Cereals LIVE event, Savills head…

ENVIRONMENTAL SCHEMES

ELM funding: Figures reveal finance shortfall

The proposed Environmental Land Management scheme (ELM) will not bridge the gap left by the withdrawal of the Basic Payment Scheme (BPS) and farmers are sleepwalking into disaster, advisers have…