Farmers seeking borrowing within their early agricultural career must be able to demonstrate their experience and adaptability, according to industry experts.
Speaking at the ’Skills for the future’ seminar at Cereals Live, Barclays national agricultural strategy director Oliver McEntyre identified people management skills, adaptability and an open-minded approach as three key skills banks look for when weighing up the risks of a loan.
Mr McEntyre said: “It can be really hard to build influence and authority in the early stages of a career.
“It is important to build up a CV full of broad experiences, demonstrating how you can manage a business and turn a profit, since banks determine most outcomes for loan applications on risk."
Mr McEntyre added word of mount that ’you can do the job’ is not enough proof.
He said: "Verified references from previous employment and certifications of relevant courses will help demonstrate your skill set.
"Talk about your past experiences, what worked, and more importantly what did not work, and how you would improve your performance next time."
Measuring your own performance was also key.
“Never stop analysing your performance and never stop benchmarking," he added.
"It astounds me more farmers do not do this.
“A confident business plan has skills and adaptability to deliver and once you have backing from the banks, the rest of the supply chain will follow.”