One fifth of farmers looking to diversify post-Brexit, new report finds

Fifty-nine per cent also said the move had a positive impact on the local community.

Chris Walsh, NFU Mutual farm insurance manager said: “The basic choices farmers have available to them as direct subsidies cease are to maintain their current business models, specialise, intensify or diversify.

Challenges

“Every farm is different and making the right choice depends on many factors including the farm’s location, land type, family structure, financial and skills set.”

Diversification for many however did not come without its challenges, with lack of time (22 per cent), red tape (18 per cent), unreliable broadband (15 per cent) and cash flow (15 per cent) all mentioned as significant obstacles.

But 80 per cent of those planning to diversify said they expected their schemes to create between one and two permanent jobs.

Director of Chamberlayne Farms Jeremy Rudge, who has converted outdated buildings into additional income, encouraged farmers to think about the sustainability of diversification economically, ‘because it is not that easy to find returns’.

He said: “Seek out good advice and personalities you can get along with. As long as you do your homework, you should not be afraid of change.

“Farming is going to change anyway, so you should not have, as they say, all your eggs in one basket.”