Region’s farmers less optimistic, says survey

By MHA

21 Apr 2015

Website

Farmers are feeling less optimistic about the future than they did in 2014, according to a survey conducted in partnership with Lancashire accountancy firm Moore and Smalley.

The survey, undertaken at the LAMMA 2015 show, is based on interviews with over 100 farmers from across the region.

It was conducted by MHA, a UK-wide group of accountancy and business advisory firms, of which Moore and Smalley is one of nine UK members. Findings of the survey showed: There is a continued desire for growth and diversification amongst the farming community, but less optimism than in 2014 There is an increase in the number of farmers undertaking co-operative farming arrangements Succession planning is of great concern for 1 in 10 – noticeably higher than in 2014 The reduced optimism reflects the reduction in cereal prices in recent months, although 59% of respondents (down from 69% in 2014) still predicted overall growth, with 23% expecting moderate to high growth. This year’s survey also saw a 4% reduction to 49% among those hoping to increase acreage over the next 12 months. Concerns remain about the availability of land - and prices continue to be a barrier.

For 2015, diversification is on the agenda for more farmers (up to 55% from 40% last year), including an upsurge in interest in harnessing renewable energy sources. Accountants remain the primary source of guidance and support for the sector.

Liz Cliffe, head of the farming and rural business team at Moore and Smalley, said: “It is good to see there’s still a healthy optimism for growth and the desire to diversify among farmers, however, the survey indicated that 11% of those surveyed felt that succession planning is still ‘of great concern’, which is noticeably higher than in 2014. With such a high concentration of family businesses passed on from one generation to the next and with the current favourable tax rules, succession planning is a vital consideration in securing the future of a farming business.”

Most farmers participating in co-operative farming arrangements are involved in contracting and this year’s survey indicates that 66% of respondents now undertake contracting, a total increase of 10% compared with last year’s results. However, Liz Cliffe warns that careful consideration should be given to any tax implications arising from undertaking these arrangements.

As the agriculture sector is affected by unique and variable factors ranging from the weather to the cost of land, it is important for farmers to seek specialist advice to assist with their growth plans. Liz added: “It is encouraging to see that 46% of respondents indicated that they would turn to their accountant for financial advice and support on key issues such as succession planning and growth plans.”

Enjoyed this? Read more from MHA

Latest news

1

Barnfield Construction transitions to an Employee-Owned Business Staff Cheer Photo.jpg.jpg

Barnfield Construction transitions to an Employee-Owned Business

24 Jan 2025

2

Wallsauce looks to grow B2B customer base with increased trade focus Martin Emmott Rosebud and Andy Gerraty Wallsauce

Wallsauce looks to grow B2B customer base with increased trade focus

24 Jan 2025

3

CBP goes into administration Community and Business Partners in Blackburn with doors shut

CBP goes into administration

23 Jan 2025

4

Plan moves forward for new £13.2m Innovation Hub Councillor Phillippa Williamson and Coun Aidy Riggott

Plan moves forward for new £13.2m Innovation Hub

22 Jan 2025

5

Record turnover as Napthens continues to grow Stephen Faulkner

Record turnover as Napthens continues to grow

22 Jan 2025

Background image for hub sign up block

LBV Hub

Leverage Lancashire Business View platforms

Post your news
Post your events
Post your offers
Build your network
Improve your SEO
Gain coverage in the magazine
Sign-up
Events
The Lancashire Festival of Business
FOB 315
Exhibitions
30 Jan 2025

The Lancashire Festival of Business

Impact Conferencing, Burnley, BB12 6QP

09:30 - 16:00

Skills Bootcamp in Procurement - Cohort 3
Blue-Modern-Land-Travel-Youtube-Thumbnail-2-1024x576.png.png
LBV Hub Awards
14 Jan 2025 - 18 Mar 2025

Skills Bootcamp in Procurement - Cohort 3

Community & Business Partners CIC, Blackburn, BB2 3UA

09:30 - 13:00

North West Holiday Home Show
PLG - NWHHS - Social - Jan 2024.jpg.jpg
LBV Hub Exhibitions
18 Jan 2025 - 26 Jan 2025

North West Holiday Home Show

South Lakeland House Showground, Yealand Redmayne, LA5 9RN

09:00 - 14:58

The Marketing Meetup IRL: Lancashire
LBV Hub Event Image.png.png
LBV Hub Networking
30 Jan 2025 - 30 Jan 2025

The Marketing Meetup IRL: Lancashire

Strawberry Fields Digital Hub, Chorley, PR7 1PS

18:00 - 20:00

Police Apprenticeship event
Student Centre Autumn 2022.jpg.jpg
LBV Hub Social
12 Feb 2025 - 12 Jan 2025

Police Apprenticeship event

University of Central Lancashire, Foster Social Space , Preston , PR1 2HE

16:00 - 19:00

February Preston Tech Connection Meet-Up: Tech & Our Planet
PRESTON TECH CONNECTION jan.ai.png.png
LBV Hub Networking
12 Feb 2025 - 12 Feb 2025

February Preston Tech Connection Meet-Up: Tech & Our Planet

Society1 Coworking Space, Preston, PR1 3LT

18:00 - 19:30

The Business Network Central & East Lancashire
LBV Hub Networking
13 Feb 2025 - 13 Feb 2025

The Business Network Central & East Lancashire

Mytton Fold, Langho, BB6 8AB

11:30 - 14:15

Sub36 Networking - Behind the beans
Sub36 Social1200Atkinsons New
Networking
14 Feb 2025

Sub36 Networking - Behind the beans

Atkinsons Speciality Coffee, Lancaster, LA1 1 EX

09:00 - 11:30

Red Rose Awards 2025
Red Rose Awards 2025
Awards
13 Mar 2025

Red Rose Awards 2025

Winter Gardens Blackpool

18:00 - 11:59

Lancashire Business Day 2025
241122lbvlancashiredaylhp0647web
Networking
27 Nov 2025

Lancashire Business Day 2025

12:00 - 17:00

Advertise with us

Reaching 50,000 members, our print, digital and event platforms offer a fantastic way to raise your business profile and help you grow.

Find out more LBV120 Online Graphic 1
Subscribe now

Weekly news bulletin