Help for farming newcomers

By Olivia Cooper

LLOYDS TSB has launched a new guide to help potential investors in farmland choose the best route into the business.

Last year, more than one in five farms sold were snapped up by buyers who had not previously owned or farmed land.

The booklet, entitled Managing a New Farm Business, deals with the first challenges that a newcomer to farming must consider, through to the finer details of farm management and agricultural tenancies.

“We want to give our customers the support tools to make good decisions for their future success, and help them implement those plans,” says senior agriculture manager, Jon Rose.

The guide covers the financial and legal implications of varying types of farm setup, from owner-occupied to contract or share farm agreements. Case studies are also used to highlight individual scenarios and budgets.

Copies are available from Lloyds TSB on (0117) 9433118